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WATCHING THE WORLD: Does OPEC cut by the numbers?

09/15/2008
If anything can be counted on in the oil and gas industry these days, it is that the governments of Venezuela and the US are not going to see eye-to-eye on very much at all.Just look at how they reacted to the announcement of production cuts of about 520,000 b/d by the Organizations of Petroleum Exporting Countries, cuts made as part of a broader move by the group to reduce what it terms “excess oil” on global markets.Almost immediately, the White House issued an announcement saying that it “certainly disagreed” with the OPEC decision to lower output and renew its call for Congress to act on legislation that boosts domestic energy production.At the same time, Venez...
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