Well Gas will go up after November 7th [View All]

[Flabbergasted]

http://www.hindu.com/thehindu/holnus/001200610151520.htm



OPEC to discuss output cuts to shore up prices


Dubai, Oct. 15 (PTI): In an effort to shore up slumping oil prices, the Organisation of Petroleum Exporting Countries (OPEC) will hold a consultative meeting in Doha on Thursday to discuss a cut in its oil production.

The OPEC would discuss a proposal to slash production by one million (BPD) to shore up falling prices, the official Emirates news agency said quoting a source.

The decision to hold the meeting was adopted after extensive consultations among member countries.

"The cut of production by one million bpd will be a temporary measure and would not mean amendments in production quotas," said the source.

Oil prices have dropped by 20 per cent since July to below US$ 60 per barrel.