OPEC agrees to 500,000 barrels extra a day

Seeking to cool volatile markets, Opec ministers today agreed to pump an extra 500,000 barrels of oil a day immediately and held out prospects of another production boost later if needed.

OPEC agrees to 500,000 barrels extra a day
Wed, 16 Mar, 2005 - 10:25

Seeking to cool volatile markets, Opec ministers today agreed to pump an extra 500,000 barrels of oil a day immediately and held out prospects of another production boost later if needed.

The move appeared in line with a proposal by the oil cartel’s president, Kuwaiti Oil Minister Sheik Ahmed Fahd Al Ahmed Al Sabah.

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CourtsBusinessOil pricesPlace: IsfahanPlace: Saudi ArabiaPerson: Oil MinisterPerson: Sheik Ahmed Fahd Al Ahmed Al SabahOrganisation: OPECOrganisation: Organisation of Petroleum Exporting Countries
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