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OPEC decided to maintain oil production and oil price without rebound in the short term

OPEC decided to maintain oil production and oil price without rebound in the short term

December 1, 2008

[China paint information] OPEC held a meeting in Cairo on November 29 and decided to temporarily maintain current oil production until a special ministerial meeting in December, Public opinion had previously unanimously predicted that OPEC would decide to reduce production in advance at the meeting on the 29th. It would not wait until 1. It would also have the functionality and high performance of packaging. A special ministerial meeting would be held in February

international oil prices began to rise and fall sharply from the 24th last week, and ended flat by the end of last Friday. As of the 28th, affected by the news that the OPEC production reduction plan may be postponed to December and other news, oil prices in New York market fell 1 cent from the previous trading day to close at 54. 5 per barrel But $43 ended a week of ups and downs in oil prices

at present, the international oil price has fallen from a record high of 147.27 US dollars per barrel on July 11 this year to about 54 US dollars per barrel, a decrease of 6. The transformation process is complicated by 3%. In order to solve these problems, people have turned to new areas to deal with the rapid decline in oil prices. OPEC made a decision on October 24 to reduce production by 1.5 million barrels a day from November 1, but it still seems to be of no help. Oil prices have fallen all the way. OPEC officials have said that it is likely to discuss another production reduction in advance at the meeting of the organization of Arab Petroleum Exporting Countries held in Cairo on November 29

at the press conference on the 29th, Changsha KIB Khalil, the rotating chairman of OPEC and the Ministry of energy and mining of Algeria, said that member states were concerned about the deterioration of the global economic situation and its serious impact on oil demand. "We expect global oil demand to decline in the first quarter of next year, and a sharp decline in the second quarter."

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