He added that if OPEC members agreed, in tomorrow's meeting, to cut oil
production in order to raise prices to USD 60 per barrel by mid next year, then this cut would be about five million barrels per day.
US energy firms cut oil
rigs for a tenth week in a row this week, decreasing the pace of decline from recent weeks, data showed, a sign low prices continued to keep drillers away from the well pad.
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RIYADH -- OPEC will not cut oil
production even if the price drops to $20 a barrel and it is unfair to expect the cartel to reduce output if nonmembers do not, Saudi Arabia said.
50 per barrel in the last three trading sessions as Opec's decision not to cut oil
production weighed heavily on the market.
Brent crude rose above $111 a barrel on Friday after a two-day drop, as severe weather cut oil
output in Europe and the United States, and with traders waiting for a US jobs report.
TEHRAN (FNA)- Turkish Energy Minister Taner Yildiz underlined that his country does not plan to cut oil
imports from Iran, reiterating that Ankara needs the Islamic Republic's crude for its domestics needs.
Saudi Arabia cut oil
output in December because of lower seasonal demand, a senior official at the Ministry of Petroleum and Mineral Resources said yesterday, rejecting reports that the move was to push up crude prices.
Subsequent to the EU measure, Iran announced on February 15 that it had decided to cut oil
exports to six European countries, namely the Netherlands, Spain, Italy, France, Greece, and Portugal.
Summary: Iran will not cut oil
supplies to India, which will find a way to pay for its exports within the next two months, Iran's caretaker Oil Minister Mohammad Aliabadi said on Wednesday, the website of Iran's state broadcaster reported.
BASRA / Aswat al-Iraq: Local authorities in Basra have no plans to activate federalism or cut oil
exports in response to allowing Baathists to rejoin the Iraqi political arena, head of the Basra Provincial Council said on Monday.
ISLAMABAD, October 12, 2009 (Balochistan Times): Pakistan State Oil (PSO) has warned to cut oil
supply to Pakistan International Air Lines if it fails to pay outstanding dues amounting to Rs.