Sunday, October 19, 2008

OPEC may cut output by 1 to 3mln bpd: Iran



Rank Order - Oil - production - nice list, see top link you can download data into Excel and Make Nice Chart like the one above with % for each country
- this CIA data book is good , can be used for many data points

The cartel's official production quota stands at 28.8 million bpd.

OPEC, whose 12-member countries together pump about 40 percent of the world's oil, said on Thursday that it has brought foward it special ministerial meeting in Vienna to October 24 from mid-November.

British Prime Minister Gordon Brown on Friday said it is "absolutely scandalous" that oil producing countries are considering cutting production "so they can push up the price of oil."

"Currently, oil market fluctuations are very strong and producers have the right to bring stability to the market," Khatibi said.

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