OPEC agrees 30m bpd supply target; Saudis want oil below 100 dollars per barrel

Wednesday, December 14th 2011 - 16:48 UTC

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OPEC oil producers on Wednesday sealed their first new production limit in three years in a deal that settles a 6-month-old argument over output levels firmly in Saudi Arabia's favour. Read full article

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ChrisR
Predictable response from Iran, Venezuela and Algeria because without increasing capacity they cannot get any more money.

Looks like CFK's chubby mate Chavez will have to try harder to live within his means. With a bit of luck that won't be for long anyway :o)
Dec 15th, 2011 - 01:20 pm - Link - Report abuse 0
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