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Vol. 8, No. 39 Week of September 28, 2003
Providing coverage of Alaska and northern Canada's oil and gas industry


OPEC members vote to cut output by nearly 4%

Cartel says decision is a pre-emptive effort to keep crude oil prices from plunging when demand slackens early next year

Bruce Stanley

AP Business Writer

Despite earlier signals from OPEC that it would hold oil output steady, fears of a possible oversupply of crude persuaded its members instead to lower their output ceiling by 900,000 barrels a day. The Organization of Petroleum Exporting Countries defied expectations and decided Sept. 24 to cut its....

    [additional news subjects in this story]

More cuts could follow

Iraq oil a factor

Benchmark still $22 to $28 per barrel

Norwegian adviser predicts additional OPEC cuts


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