OPEC may cut production if oil prices fall to $70 a barrel
Date: 13:36, 07-11-2014.
Almaty. November 7. Silkroadnews - The Organization of Petroleum Exporting Countries (OPEC) may reduce the production ceiling, if the price for it will fall to $70 per barrel, informs Russian media reported.
On November 27 in Vienna, OPEC will meet at the ministerial level. While members of the organization failed to develop a coordinated response to a 25% fall in world oil prices since the summer of this year.
As noted, if the price of oil falls to $70 per barrel, it will have a lot of pressure on the budgets of some OPEC members.
