The Organization of Petroleum Exporting Countries (OPEC) Thursday said it will announce further oil output cut at the end of this month if global oil prices continue falling down, Algerian news agency APS reported.
Algerian Minister of Energy and Mines Chakib Khelil, who is also OPEC's current rotating president, told reporters here that OPEC members will meet in Cairo on Nov. 19 to discuss the oil output cut on the sideline of the meeting of Organization of Arab Petroleum Exporting Countries (OAPEC).
Some OPEC member countries, such as Algeria, Kuwait, Libya, Qatar, Saudi Arab, also are members of OAPEC.
The global financial crisis has affected the oil prices, he added.
In an attempt to stabilize the falling oil prices, OPEC decided on Oct. 24 to slash its daily oil output by 1.5 million barrels.
OPEC oil prices have continued dropping since July this year.
The organization is scheduled to hold a special minister-level meeting in the western Algerian town of Oran on Dec. 17 to discuss the prospects of international oil markets in the first half of 2009.
Source: Xinhua
|
Comment
Tell A Friend
Print Format
Save Article