OPEC could maintain output level, even as oil prices hover at record highs

OPEC seems to have decided to maintain its official oil output level at 29.67 million barrels of oil at a meeting to be held at Vienna on Wednesday. This could amount to ignoring pleas from USA to raise production to help cool record-high crude prices threatening to dampen economic growth. New York crude struck an all-time peak of US$103.95 per barrel on Monday as the US currency dived to a fresh low against the euro. In fact, OPEC members Algeria, Iran and Venezuela have called for a cut in production, as demand for heating fuel is expected to dampen during the second quarter as warmer temperatures hit Europe and the United States.
  More News  Post Your Comment

Previous News

Next News

{{comment.Name}} made a post.




There are no comments to display. Be the first one to comment!


Name Required.


Email Id Required.

Email Id Not Valid.


Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.

Message Required.

Click to Change image  Refresh Captcha