China Financial Daily

November 9, 2008

OPEC: Oil Prices and Crude Oil Production

Filed under: Financial News — Tags: , , — Nancy @ 8:51 pm -0800

OPEC considers a further decline in production to stop the fall of oil prices
OPEC rotating president, Algerian Energy and Mines Minister expressed on October 8 that if the reduction plan announced in October by OPEC could not stop the decline in oil prices, PEC members would carry out a new round of production reduction.

Platts energy information Survey: in October, OPEC daily crude oil production fell to 32.26 million barrels
Platts energy information (Platts) released a survey result on Organization of Petroleum Exporting Countries (OPEC) and oil industry officials, it showed that average crude oil output in October was 32.26 million barrels, which reduced 0.21 million barrels compared with the number in September.

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