Archive for September 9th, 2008

OPEC agrees to surprise output cut, oil price rises (Reuters)

Written by on Tuesday, September 9th, 2008 in Latest News.

Algerian Oil Minister and OPEC President Chakib Khelil arrives for a news conference after a meeting of OPEC oil ministers in Vienna September 10, 2008. (Heinz-Peter Bader/Reuters)Reuters – After hours of wrangling, OPEC on
Wednesday agreed to revise its complex output targets and said
the go would effectively cut supplies by half a million
barrels per day (bpd).

Original post by Reuters and software by Elliott Back

Hurricane Ike over Gulf of Mexico, targets Texas (Reuters)

Written by on Tuesday, September 9th, 2008 in Latest News.

Elderly people rest in a convent's shelter after being evacuated, as Hurricane Ike approaches, in Havana September 9, 2008. (Claudia Daut/Reuters)Reuters – Hurricane Ike swirled over the Gulf of
Mexico on Tuesday, targeting Texas near the U.S. offshore oil
patch after toppling decrepit buildings in Cuba’s capital and
ripping the communist-run island from end to end.

Original post by Reuters and software by Elliott Back

OPEC cuts output to shore up falling market (AFP)

Written by on Tuesday, September 9th, 2008 in Latest News.

File photo shows an oil and gas platform off the Nigerian coast. The OPEC oil group has announced a cut of 520,000 barrels a day to its output citing downside risks to the oil market as prices fell below 100 dollars for the first time since April.(AFP/File/Pius Utomi Ekpei)AFP – The OPEC oil group announced a cut of 520,000 barrels day day to its output on Wednesday citing downside risks to the oil market as prices fell below 100 dollars for the first time since April.

Original post by AFP and software by Elliott Back



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