OPEC Chief Abdullah el-Badri:

Oil cartel 'not ready' to cut production

GMT 13:36 2015 Thursday ,30 July

Arab Today, arab today Oil cartel 'not ready' to cut production

Global oversupply in crude oil
Moscow - Arab Today

OPEC Secretary-General Abdullah El-Badri said on Thursday the oil producers' cartel is not planning to cut production despite the fall in crude prices over recent months and concerns about the possible addition of Iranian oil in the market.

"We met in December last year and we met in June this year. We decided to keep our production at 30 million barrels a day, the same as before. We are not ready to reduce our production," Badri said after a meeting in Moscow with Russia's energy minister.
Source: AFP

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