OPEC calls emergency meeting

10/23/2006
After weeks of falling crude prices, the Organization of Petroleum Exporting Countries finally agreed to an emergency meeting Oct. 19 in Qatar to discuss a possible production cut of 1 million b/d.Analysts in the Houston office of Raymond James & Associates Inc. said the group would try to work out details of what would be its first official production cut since April 2004. Ministers had been debating whether the cut would be from actual output of about 27.5 million b/d for members other than Iraq or from the “notional” group quota of 28 million b/d. “The results of the meeting should help shrug off the uncertainties related to the cut that have been hanging over the...
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