Business | Oil & Gas
Opec to cut output by good amount in Algiers
Opec will likely decide to cut supplies at a meeting later this month, the cartel's secretary general said on Monday.
- Agencies
- Published: 09:55 December 1, 2008
Tehran: Opec will likely decide to cut supplies at a meeting later this month, the cartel's secretary general said on Monday.
Speaking at a news conference, Abdullah Al Badri said: "The market is oversupplied because we are seeing stocks as very high, about 55 to 56 days.''
Asked about whether there would be a cut decision in Algeria, he said: "There will be action there ... It will be a good amount, a good quantity," without giving any specific amount.
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