New 1 million b/d OPEC cut would stop price fall in 2009: CGES

摘要

Oran, Algeria-A new OPEC output cut of 1 million b/d would prevent oil prices falling further in 2009, the Centre for Global Energy Studies said December 15 as OPEC ministers began arriving in Oran, western Algeria, for the oil producer group's December 17 talks. The CGES, a London-based think tank founded by former Saudi oil minister Zaki Yamani, said a bigger cut risked undermining the global economy and further depressing global oil demand, which it now expects to fall by 500,000 b/d next year.