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Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta

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Message: Re: Sunday's Opec meeting results
2
Mar 15, 2009 07:52AM
3
Mar 15, 2009 11:08AM

As I wrote they agree

OPEC agreed to keep oil production quotas unchanged, deciding against a further output cut that risked damaging the ailing global economy.

A new cut risked a price increase that could harm the economy, Saudi Arabian Oil Minster Ali al-Naimi said.

They are aware of the fact that cutting to hard is not a good decission.It's founding a balance between an oil price and the recover of economic situations.

I 'm wondering what they had in mind as price level.For us in CLL this is important.



The 12-nation producer group doesn’t expect a rapid recovery in prices to $75 a barrel, the level that several ministers and Saudi King Abdullah have previously said is appropriate to encourage investment in the industry.

If they had 60 in mind that would be ok for us I think.

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