Crude oil price slide revives talk of OPEC cuts

01/01/2001
The steep slide in oil prices in the past month has revived talk of production cuts by the Organization of Petroleum Exporting Countries.Oil prices last week remained near their lowest level in 8 months, increasing the likelihood of production cuts by OPEC members during their next meeting in January, analysts said.Some professed surprise at the rapid drop in prices for crude last month, down some 20% since November, although OPEC members had warned that too much oil was being pushed into world markets even before their last production hike took effect in October. Investors have since bailed out of the energy futures markets in anticipation that a slowdown in the world economy will reduce...
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