OPEC ministers to ratify 5 percent cut in crude outputLondon-based Center for Global Energy Studies says reduction of 1.5 million barrels a day won’t have negative impact on consumers by The Associated Press
OPEC’s top official confirmed Jan. 17 that all its members now favor a decrease of 1.5 million barrels a day in crude oil production, or 5 percent of their current output.
The cuts, which are to take effect Feb. 1, are aimed at keeping crude prices firm ahead of an expected slowdown in U.S. economi....
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It could have been worse Iraq the wildcard Recent highs above $30 a barrel
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