Important and educational info here..

D!ve^Bomb!

post number 1000.., woo hoo!! go me!

*edit* INFO:D

Oil price rises after OPEC move

December 10, 2004 17:23
Oil prices rose again on Friday after OPEC oil producers agreed to reduce crude supplies by one million barrels a day from the beginning of next year.

New York's main oil contract, light sweet crude for delivery in January, rose 15 cents to $42.68 a barrel. In London, Brent North Sea crude oil for January delivery gained 23 cents to $39.90 a barrel.

The 11-member cartel left its total output quota unchanged at 27 million barrels per day but decided to reduce its actual supply to bring it closer in line with the official ceiling.


'Over-production will be reduced by one million barrels a day from January 1, 2005, and we will meet again on January 30 to re-examine the situation,' Algeria's Energy Minister Chakib Khalil said after the OPEC meeting in Cairo.

He said OPEC had taken the decision because of the recent falls in crude prices on world markets in the face of lower than expected demand.

'The downward trend seemed to us to be a bit too rapid, and it appeared that if we did not take this sort of decision the prices would not stabilise and we would find ourselves in a situation where we couldn't control the stability of the market,' Khalil said.

Although OPEC is relieved to see prices cool from the record highs, which triggered widespread concern from consumer nations, they are nervous about the risk of a slump in markets when spring arrives in the northern hemisphere.

Saudi Arabian Oil Minister Ali al-Nuaimi said the cartel acted to try to prevent global petroleum inventories recovering too quickly.

The Organisation of Petroleum Exporting Countries, which supplies about 40% of the world's oil, has official output quotas totalling 27 million barrels per day but is currently producing at least one million barrels more.

Cartel members have been pumping for months at close to full capacity to try to bring down prices from record high levels which topped $55 a barrel in October but have since slid back to just over $40.

Jim

Duck!

Tommy Vercetti

no

Flukey

Sorry, but I don't feel any more educated having visited this thread.

Jim

Did I say duck?
I meant ****.

**** off.

feylya

*singing*

And you're going to be a bannnnnn hannned....

ixoy

*waves bye to newband*

Tommy Vercetti

even I'm not this stupid :rolleyes:

*waits for something bad to happen*

dahamsta

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adam

feylya

+Rep for dahamsta

Jim

"dahamsta sig has improved the quality of my life. I've lost 4 stone."

Tommy Vercetti

Well, Ken, before I started the Dahamsta plan, I weighed 450 pounds! I was ashamed to leave the house, now I'm making love to four ladies every night.
Sometimes with their consent. Thanks Adam!

Lump

Bye Bye.... 1000 and you're dead.


John

SantaHoe

Reset him to zero!
mmmmmm prunes.

Pet

newband wrote:

post number 1000.., woo hoo!! go me!

Reset him to zero!

Haha, you're gonna get in SOOOOO much trouble when mom comes home!!

D!ve^Bomb!

dahamsta wrote:

Have YOU grown weary of newband's idiotic sig and even more idiotic posts? Are YOU frustrated with having to click your mouse Two Whole Times to add him to your Ignore List? Save time and money with dahamsta's patent-pending One Click Solution!

CLICK!

(Ok it's really two clicks instead of three, but seriously, I saved you a whole click like.)

adam

ah you're just mad because i wouldn't let you suck my dick and you have no clue how to drive.. but don't worry, there are other dicks out there

Stephen

^
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Ass.

seamus

Ah missed this. Bye bye newband....