Saudia-Online the Net Gate to Saudi Arabia Market Jeddah Home
Saudi Arabia Business News
Business Opportunities
Business Guide
Companies Directory
Corporate Websites
Currency Exchange
Saudi Arabia Events
Local News
Saudi Stocks
Economic Reports
Saudi Arabia Travel
Saudi Arabia Weather
Submit Press Release
Read Press Releases

Free Websites
 for Saudi companies and Establishment


for Foreign companies 
interested in exporting
to Saudi Arabia

Community Sign Up

Message Boards
Should women be in the army?

About Saudi Arabia
About us

Arabic cuisine
Arabic newspapers

Arabic radio and TV

Free downloads

Saudi Arabia ISP's

Science and Technology

Send us feedback


Traveling to Saudi Arabia

Phone Free

Top Saudi Arabia Business News 

Opec seeks to ensure stable oil prices

Rome 4th October 2001-- Opec President Chakib Khelil said on Thursday the oil cartel was reluctant to cut production, despite falling prices, prior to any U.S. military action that could drive prices upwards again.

'Our objective is to make sure that we don't enhance any price increase that could result from the attack, if there is one,' Khelil told Reuters in Rome during a week-long visit to Italy. 'We don't want to make a decision just before that happens,' he added.

oil prices have slumped by about 20 percent since the September 11 attacks on the United States.

Opec's oil basket price has now spent eight consecutive days below the cartel's $22-$28 per barrel target range.

'Military action could have a big impact on prices. Prices will definitely increase but we don't know how much they will increase,' Khelil said.

'Our objective is to stabilize prices,' he added.

oil markets needed time to absorb Opec's three output cuts so far this year, the last of which took effect on September 1, which had already dealt with oversupply, Khelil said.

Source: SPA



Send Page To a Friend  

Starting Business with Saudi Arabia Use the Saudi Business Guide

Join the mailing list
Your Email Address:

Archives Section

Back to Business News


Free services in Saudia-Online
Free services

Free Websites for 
Saudi Arabia

Free services

Free Websites for Saudi companies and Establishment

Free services

Free Websites for
Saudi Arabia Travel
Agencies and Companies

Free services

Free Domain

Free services

List your Saudi
Arabia Company in
our Directory

Free services

Subscribe to our

Free services Jobs......
Post a job!

Job Openings

Free services

Advertise Free
Classifieds section. 

Free services

Gift Reminder

Free services


Get Stock Quote: Enter Symbol(s)

Symbol Lookup
My Portfolio
Our Privacy Vow 


Make Saudia-Online My Start Page  -  Bookmark Saudia-Online
Contact Us -  Advertising Info -  About Us -  Terms Of Service -  Add My Site -  Privacy Policy 

1999-2001 by Horizon for Commercial Development Co., Ltd, All rights reserved.
  Saudia-Online,Malls2Save,JeddahMalls,RiyadhMalls,RiyadhShops,SaudiMade,Travel2Saudi and HDC are  trademarks of Horizon for Commercial Development Co. Ltd.  P.O. Box 14657, Jeddah 21434, Saudi Arabia
 Telephone 00966-2-6693585, Fax 00966-2-6693472