OPEC leader Khelil says new reduction in oil production possible

摘要

Algiers-OPEC President Chakib Khelil said November 8 a further production cut was possible when the oil producers' group meets on December 17 in Oran, Algeria, if oil prices remain at current levels, but any decision to cut would depend on whether members comply fully with the 1.5 million b/d reduction that came into force this month.Khelil, speaking at a seminar organized by the El Moudjahid newspaper in Algiers, also said a price of $70-$90/barrel was "a kind of target" for OPEC oil producing states. The 13-member cartel does not have an official price target, having dropped price bands several years ago.