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Opec could cut further
- Saudi Arabia: Wednesday, November 08 - 2006 at 07:31
Opec could increase crude oil production cuts at its December meet if the oil market stays unbalanced, Reuters quoted the Saudi oil minister as saying. Ali Al Naimi said current inventories are very high, meaning the market is not in balance. He told an Islamic economic forum that very low prices lead to volatility and subsequently higher prices.
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James McInerney, News EditorWednesday, November 08 - 2006 at 07:31 UAE local time (GMT+4)
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This article was updated on Wed Mar 14 2007.
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