Stories tagged with "quotas"

October 24, 2008 OPEC Meeting Open Thread

Posted by Gail the Actuary on October 23, 2008 - 11:09pm
Topic: Miscellaneous
Tags: oil production, opec, original, production cuts, quotas, saudi arabia [list all tags]

OPEC will be holding its meeting on oil production in Vienna, Austria on October 24.

I have not been able to locate a schedule, but the OPEC Meeting Website indicates that there will be live streaming of some events--press conferences, interviews, and opening events. This is described at this location. It is virtually certain that the meeting itself will not be on the webcast.

The website gives a form for people to submit questions to possibly be asked of senior OPEC officials at press conferences.

I am posting this information in advance, since the meeting starts while those of us in the United States are still sleeping. Some of you in other parts of the world may want to tune in to the webcast.

Below the fold you will find a few quotes I have noticed preceding the conference. It sounds to me like there are several hard-liners who want big cuts and several others who are cautious about making cuts.

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Angola Joins OPEC

Posted by Dave Cohen on December 21, 2006 - 11:34am
Topic: Policy/Politics
Tags: abdallah jumah, angola, ecuador, oil prices, opec, quotas, shokri ghanem, sudan [list all tags]

The news is official — Enlarged Opec aims for high crude prices.
At a gathering in Abuja on Thursday [December 14], ministers from the 11 member countries opted to cut their production by another 500,000 barrels per day from February and accepted African producer Angola as a new member from January 1.
More details will follow below the fold but let us set the correct tone at the start.


"What did we do before?" he asked rhetorically,
alluding to the move to ramp up output in 2004 after the
aborted cut. "People don't know the trouble we go to, to
balance the market," Mr. [Ali al-] Naimi said. "Without us,
the oil market would be chaotic."
From OPEC's Cut Aims to Prop Up Prices.

Now that Christmas has come early, let's examine what's going on in the Organization of Petroleum Exporting Countries.

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