OPEC May Cut Production, Oil Above $91

OPEC members are beginning to talk about cutting production in March. The reason is to keep prices high. Oil now trades near $92 a barrel. According to MarketWatch “Lower demand coupled by economic hurdles in the U.S. warrants a cut,” one unnamed senior delegate told the newswires. “Even if we were not facing economic concerns in the U.S., it is normal for OPEC to usually cut production for the lower demand season.” Douglas A. McIntyre
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Original Source

  8 February, 2008| Economy | @ 20:37

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