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The Marty Heiser Show

Opec cuts oil output

Friday, October 24, 2008

The Organisation of the Petroleum Exporting Countries (Opec) has agreed to cut its oil output by 1.5 million barrels per day from the start of November.

Ali al-Naimi, the Saudi Arabian oil minister, confirmed the move on Friday, adding that the oil group will now wait to see the effect of its decision on the oil market before considering any further possible cuts.

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Pictures Source: news.yahoo.com/nphotos
posted by Ivon, 9:18 AM

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