USD 80.5268

-0.16

EUR 93.3684

-1.09

Brent 66.42

-0.27

Natural gas 2.801

-0.01

195

OPEC Chief Says non-OPEC Countries Should Cut Oil Output

Among those that Chakib Khelil mentioned are Russia, Norway and Mexico

OPEC Chief Says non-OPEC Countries Should Cut Oil Output

Khelil suggested that these countries could contribute half of the cut, saying the eventual drop -- aimed at boosting oil prices in the wake of global financial turmoil and reduced demand in developed countries -- could be "shared between OPEC and non-OPEC states."

"If non-OPEC nations, notably Russia, Norway and Mexico , don't contribute to the cut in oil production, the OPEC decision is going to be harder and more painful (to make), demanding greater sacrifices on the part of OPEC members," Khelil was quoted as having told public radio.

Members of the cartel want cuts in order to revive crude prices that have dived 55 percent since reaching record highs of more than 147 dollars a barrel in July.

OPEC, whose 12 member-states together pump about 40 percent of the world's oil with an official quota of 28.8 million bpd currently, brought forward its ministerial meeting to October 24 from mid-November.

World oil prices rose in Asian trade on Monday amid growing signs that OPEC will announce production cuts, with New York's benchmark contract, light sweet crude for November delivery, trading at 73 dollars a barrel.

Author: Ksenia Kochneva


Подпишитесь

Follow us on Google News
Advertising at neftegaz.ru

Subscribe to our newsletter

of the best materials Neftegaz.RU

* Incorrect E-Mail Address

By clicking the "Subscribe" button I accept the "Agreement on the processing of personal data"


Advertising at neftegaz.ru