Published March 14, 2009, 07:47 AM
OPEC could cut production again
Slash oil output to boost revenues but risk deepening the world’s economic woes? Rarely have OPEC oil ministers faced a tougher choice.
VIENNA (AP) — Slash oil output to boost revenues but risk deepening the world’s economic woes? Rarely have OPEC oil ministers faced a tougher choice.
The Organization of the Petroleum Exporting Countries meets in Vienna Sunday, where they could reduce daily production by up to half a million barrels, or do nothing.
OPEC meetings are usually more clear cut. If oil ministers of the 12-nation organization think prices are too low, they decide to crimp output — as they have at the last two meetings. If oil is too pricey, as was the case less than a year ago, they boost production. And if they are happy, they keep to the status quo.
Tags: opec, business, energy, oil
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