GREY:ROAOF - Post by User
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Perform4uon Oct 22, 2008 9:10pm
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Post# 15541837
OPEC
OPECOPEC meeting weighs oil price against economic crisis
Baltimore News.Net
Wednesday 22nd October, 2008
At an extraordinary meeting of OPEC in Vienna, President Chakib Khelil said that the cartel must weigh the impact of any decision to cut oil output on the global financial crisis.
He said any decision would need to take into account the interests of the consumers but also the interests of the producers.
Khelil said the meeting had come in the middle of a financial crisis where lots of countries had been affected.
He said that OPEC did not want producers, affected by the financial crisis, to be further hit by very low oil prices, which reduce their incomes.
OPEC's member countries are calling for a cut to the cartel's output of between one and 2.5 million barrels a day to help shore up oil prices.