OPEC oil price rises as cartel curbs production
December 18th, 2008 - 6:26 pm ICT by IANSVienna, Dec 18 (DPA) The price for oil produced by the Organisation of the Petroleum Exporting Countries (OPEC) rose by 21 cents Wednesday, as the cartel decided to cut production by 2.2 million barrels per day.The price for one barrel (159 litres) of crude produced by OPEC stood at $40.95 Wednesday, the Vienna-based organisation announced Thursday.
After the meeting of OPEC oil ministers in Oran, Algeria on Wednesday, the cartel’s president Chakib Khelil said he hoped that the oil price would “evolve in due time to $70-80 per barrel” as a result of the production cut.
OPEC’s 13 member countries produce over 40 percent of global oil supply.
- OPEC oil price goes up ahead of expected production cut - Dec 16, 2008
- Opec oil prices rises - Dec 15, 2008
- OPEC keeps oil output steady - Sep 10, 2009
- Opec oil price falls - Dec 17, 2008
- OPEC oil price keeps fluctuating - Nov 08, 2011
- OPEC crude price rises ahead of expected output cut - Oct 21, 2008
- OPEC oil price remains below $70 - Jun 17, 2009
- OPEC oil price slides to $68.86 - Feb 09, 2010
- Opec crude price falls below $60 despite output cut - Oct 27, 2008
- OPEC cartel faced with future risks in its 50th year - Sep 10, 2010
- OPEC oil price rises above $70 - Jun 19, 2009
- OPEC predicts declining oil demand and oversupply for 2009 - Dec 16, 2008
- OPEC oil price rises above $65 - Jul 22, 2009
- OPEC oil price keeps falling - Dec 22, 2008
- OPEC oil price dips below $40 - Jan 21, 2009
Tags: chakib khelil, curbs, due time, global oil, oil ministers, oil supply, opec, opec oil price, oran algeria, petroleum exporting countries