FROM SCRATCH NEWSWIRE

SCAVENGING THE INTERNET

IRAN CUTS OIL PRODUCTION AS PRICES CONTINUE PLUMMETING

Posted by Gilmour Poincaree on October 31, 2008

date: 31 10, 2008

TEHRAN, OCT. 31 (BNA) — IRANS OIL MINISTER GHULAM HOSSEIN SAID, IN LINE WITH A RECENT DECISION TAKEN BY THE ORGANIZATION OF THE PETROLEUM EXPORTING COUNTRIES (OPEC) TO REDUCE OIL SUPPLY, IRAN WILL START CUTTING 199000 BARRELS A DAY OF ITS OIL PRODUCTION AS OF TOMORROW, NOVEMBER 1, 2008.

IN ADDITION, TEHRAN, IN ITS CAPACITY AS MEMBER OF THE OPEC OIL PRICES CONTROL COMMITTEE, WILL MONITOR OPECS MEMBER-STATES COMMITMENT TO THEIR STAKES, THE MINISTER ADDED. REGARDING A PROPOSAL BY OPEC SECRETARY GENERAL TO HOLD AN EMERGENCY MEETING BEFORE DECEMBER GATHERING, THE MINISTER SAID SUCH PROPOSAL WOULD BE PUT IN EFFECT IN CASE PRICES CONTINUE SLIDING.

MTQ 31-OCT-2008 16:10

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘Bahrain News Agency’

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