Thread: OPEC Agrees to Cut Oil Production by 1.5 Million Barrels Per Day

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  1. #1 OPEC Agrees to Cut Oil Production by 1.5 Million Barrels Per Day 
    Senior Member cat714's Avatar
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    "VIENNA, Austria — Libyan oil minister says OPEC will cut output by 1.5 million barrels a day.

    ...Just as Americans are finally beginning to reap the benefits of plunging gasoline prices — including more money in their pockets — the 13-nation global oil cartel is getting ready to squeeze them once again by cutting production and driving up prices to refineries.

    ..."The era of cheap oil is finished," Iran's Oil Minister Gholamhossein Nozari boasted earlier this week.

    When asked what price Iran would want for its oil, Nozari declared, "The more the better."

    Iran's oil minister told Reuters he would push to cut production by up to 2.5 million barrels per day."


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    What a bunch of buttholes.
    Last edited by bijou; 10-24-2008 at 12:17 PM. Reason: to comply with B/N format
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