PARIS: Ministers from the 11-member Organisation of Petroleum Exporting Countries (OPEC) are likely to decide on a further cut in OPEC oil output when they gather on Thursday in Abuja, Nigeria. The cartel, which regulates its oil supply to maximise export revenues and control prices, is eager to keep crude around $60 per barrel and a further cut would support the market heading into the northern hemisphere winter. It is also expected to include some behind-the-scenes friction as countries reconvene to assess adherence to their individual production limits.
OPEC set to cut output
Published: 12:00 am Dec 10, 2006