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Oil prices could fall below $20/b if Opec does not reduce its actual crude produ ...

Oil prices could fall below $20/b if Opec does not reduce its actual crude production to at least its nominal ceiling of 24.5mn b/d, Algerian Oil Minister Chakib Khelil has stated. Meanwhile, ex-Opec Secretary General and President of Venezuela’s PdVSA Ali Rodriguez has said that Opec and non-Opec oil producers need to cut oil output by 2mn b/d in 2Q2003.

News Item details


Region: World

Keywords: Oil price

Organisation: OPEC

Subjects: Trading, Oil markets, Oil

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