'If the barrel price does not reach this level, there will probably be another (production) cutback,' he said, adding however that there must be consensus among the 12 Opec nations, 'and everyone has their own interests'. -- PHOTO: AGENCE FRANCE-PRESSE
ALGIER - CURRENT Opec president Chakib Khelil refused on Saturday to rule out another cut in the cartel's output if the price of crude oil remains below US$70 (S$104.80) per barrel before an Opec meeting in Dec.
'We have always said that our objective is US$70 to US$80 a barrel,' Mr Khelil, who is also Algeria's energy minister, told an energy industry seminar in Algiers.
'If the barrel price does not reach this level, there will probably be another (production) cutback,' he said, adding however that there must be consensus among the 12 Opec nations, 'and everyone has their own interests'. -- AFP
