OPEC may Cut Further on March 15

Saturday, October 10, 2009

OPEC may cut its production further at the next meeting being held on March 15.

Former OPEC President Chakib Khelil said that if present output cuts don’t result in higher oil prices OPEC must cut production again.

The OPEC countries need crude oil prices above 70 a barrel to invest and develop new oilfields, Khelil said today.

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