OPEC Delegate: Believe OPEC Won't Decide To Cut Output Saturday
The delegate didn't elaborate on his comment.
The Organization of Petroleum Exporting Countries is holding an informal gathering here Saturday to review the oil-market conditions and the group's compliance with two recently pledged output cuts, which total about 2 million barrels a day.
OPEC is concerned by the more than 60% plunge in oil prices to around $55 a barrel by Friday from a record high of $147 a barrel in July.
OPEC representatives including Saudi Arabia's oil minister Ali Naimi said before the meeting began that they don't expect the group to take further action Saturday.
-By Benoit Faucon, Dow Jones Newswires; +44 20 7842 9266; benoit.faucon@dowjones.com
(END) Dow Jones Newswires
November 29, 2008 10:08 ET (15:08 GMT)
Publié le 29 novembre 2008 Copyright © 2008 Dowjones
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