|[Published: Thursday October 23 2008]
OPECsextraordinary meeting decides cut of production by 1.5 mb/d
Vienna , 24 Oct. (ANA) - The 150th (Extraordinary) Meeting of the Conference of the Organizationof the Petroleum Exporting Countries (OPEC) convened at OPEC
Headquarters, Vienna, Austria, on 24October 2008, under the Chairmanship of
Dr Chakib Khelil, Minister of Energy and Mines of Algeria and Head of itsDelegation, decided to decrease the current OPEC-11 production ceiling of28.808 million barrels a day by 1.5 mb/d, effective 1 November 2008.
This decision will be reviewed at the Extraordinary Meeting of the
Conference scheduled to convene in Oran, Algeria, on 17December 2008. In the interim, the Conference requested the Secretariat tocontinue to closely monitor the market.
Member countries strongly emphasizing their firm commitment to ensuringthat the
volumes they supply to the market are reduced by the individually agreed
amounts, as shown below.
I. R. Iran 199,000
Saudi Arabia 466,000
Total 1,500,000. (ANA)
AB/ANA/ 24 October 2008 ---