• HSBC

Oil price fall threatens supply

  • Saudi Arabia: Saturday, December 20 - 2008 at 08:58

Continuing fall on oil price levels are wreaking havoc on the industry and are threatening current and planned investments, according to Saudi Arabian Oil Minister Ali Al Nuaimi, Gulf News has reported. Key Opec members have warned oil prices below $70 could threaten future supplies. Opec members announced that they would cut their daily production by 2.2 million barrels.

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