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NEWS ABOUT: Abdalla el Badri

More About:  oil OPEC BP Saudi Arabia oil industry oil production oil price foreign investment biofuel Libya

OPEC Prepares to Slash Output

Saudis lead push for record cut to pump prices to $75 a barrel

(Newser) - OPEC ministers are expected to back the biggest reduction in oil production in the history of the cartel when they meet today, Reuters reports. The exporters widely support a cut of 2 million barrels a day. Oil prices neared $43 per barrel yesterday, down over $100 from July. Officals from... More »

OPEC Members May Seek More Foreign Funding

Soaring world demand breaks down resistance to international deals

(Newser) - OPEC's new secretary-general says cartel members may be forced to attract more foreign investment to meet the world's expanding oil needs, the Wall Street Journal reports, a reversal of some countries' traditional opposition to cooperation with major Western producers. Oil-rich nations, currently riding high, may find themselves at a disadvantage... More »

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