Oil Output to Hold Steady, OPEC Says |
| Wall Street Journal - Mar 5, 2008 |
OPEC held its current production policy unchanged Wednesday, according to senior officials, rebuffing calls from large consuming nations to pump more oil to help alleviate scorching crude prices.
The decision comes amid heightened fears about the health of economic growth in the U.S., the world's largest energy consumer, and against a backdrop of rising crude inventories in the world's industrialized nations.
[Ali Naimi]
Despite benchmark crude prices trading above $100 a barrel, the Organization of Petroleum Exporting Countries opted to continue pumping and wait until the energy demand picture in the U.S. becomes clearer, officials said ahead of the group's official post-meeting press conference.
Read Full Article from Wall Street Journal
- Posted: 2008-03-05 10:24:35
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