OPEC delivers warning on oil prices

OPEC warned today that oil prices, already hovering near US 50 a barrel, would remain high through the spring, even as the cartel decided to keep its production ceiling at 27 million barrels a day.

OPEC delivers warning on oil prices
Sun, 30 Jan, 2005 - 12:08

OPEC warned today that oil prices, already hovering near US 50 a barrel, would remain high through the spring, even as the cartel decided to keep its production ceiling at 27 million barrels a day.

The decision, reached at a meeting of the 11-nation group in Vienna, offers little solace for consumers worried about high fuel prices.

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CourtsBusinessHeathrowPlace: ViennaPlace: KuwaitPlace: LondonPerson: Sheikh Ahmad Fahd al-Ahmad al-SabahPerson: Oil MinisterPerson: Bijan Namdar ZangenehPerson: Purnomo YusgiantoroPerson: Abdullah bin Hamad al-AttiyahPerson: BrentOrganisation: OPECOrganisation: Organisation of Petroleum Exporting CountriesOrganisation: New York Mercantile ExchangeOrganisation: International Petroleum Exchange
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