Middle East Economic Survey

VOL. LII

No 8

23-Feb-2009

OPEC/OIL PRICES

OPEC More Likely To Cut Output Further If Prices Fall Below $40/B, Says Khelil

OPEC will be more likely to cut its production again if crude oil prices fall below $40/B, Algerian Minister of Petroleum and Mines Chakib Khelil said on 17 February. Speaking to reporters prior to attending the US-Algeria Energy Forum in Washington, Dr Khelil said there was a 50% chance that OPEC would decide to make a further reduction in its current...