Tuesday, January 27, 2015   

OPEC expected to maintain current production
(06-10 19:13)

Kuwait expects the Organization of Petroleum Exporting Countries to keep the oil production ceiling unchanged so as not to alter prices, the wealthy Gulf country's oil minister said.
Asked if he believes the OPEC cartel will decide to maintain current output at its regular meeting in Vienna this week, Ali al-Omair said: ''I think yes.''
''I think that all parameters lead to keeping the production as it is and this, of course, will be reflected in (oil) prices'' remaining unchanged, Omair said outside parliament before leaving for Vienna.
He said he believes that by not changing the oil output ceiling, there will be no ''big changes'' in crude prices.
The 12-member OPEC, which supplies about one-third of the world's crude, is pumping around 30 million barrels of oil daily.
OPEC is also satisfied with current price levels at around US$100 (HK$780) a barrel.--AFP
   
Other Business breaking news:
Spain growth could hit 2.5 % in 2015: minister (01-26 18:27)
German business confidence hits six-month high in January: Ifo (01-26 17:11)
Greek stocks open down 2 percent after Syriza victory (01-26 16:52)
European stocks open lower on Greek election result (01-26 16:34)
Hang Seng ends higher (01-26 16:33)
IBM denies layoff rumors (01-26 16:14)
Nikkei dips at close (01-26 14:14)
Hang Seng dips by break (01-26 12:37)
Nikkei down by midday (01-26 11:45)
Japan trade deficit swells to record in 2014 (01-26 11:44)

More breaking news >>

© 2015 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2015, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.