Opec goes for 60 minimum price

摘要

Opec,at its 19/20 October EGM meeting in Doha,agreed to aim for a new minimum oil price of 60/b,backing the intention with a planned 1.2mn b/d output cutback to a collective 26.3mn b/d(excluding Iraq),effective from 1 November 2006.AN Nairn!,the Saudi OH Minister,even added that a further cut might be necessary at Opec's December meeting in Abuja,Nigeria.There are good reasons for thinking Opec will probably succeed in establishing a 60/b floor.