Top Scoops

Book Reviews | Gordon Campbell | Scoop News | Wellington Scoop | Community Scoop | Search

 

OPEC Calls For Stable Oil Market

ALGIERS:

The Worldoil News Agency has reported the Organisation of Petroleum Exporting Countries (OPEC)cartel would would seek to guarantee a stable oil market and meet demand in the wake of the terrorist attacks in the United States.

Algeria's Chakib Khelil was quoted as saying: "The member countries of OPEC are for the stabilisation of the oil market.

"The organisation is working to satisfy all demand on the market,"

He also asserted that the grouping would stick to maintaining a target price of 25 dollars per barrel.

The price of oil fell on Wednesday, but traders were on alert for any US retaliation amid concerns that Gulf Arab producer nations might become embroiled in a wider conflict.

The price of Brent North Sea crude for October delivery fell 84 US cents a barrel to 28.22 dollars in late trade in London.

Brent crude prices had spiked above 31 dollars on Tuesday in the aftermath of the devastating attacks on the US World Trade Centre and the Pentagon.

The US oil market was not open when news broke about the attacks.

The Organisation of Petroleum Exporting Countries (OPEC) was quick to pledge that it would guarantee sufficient oil supplies to stabilise oil prices.

© Scoop Media

 
 
 
Top Scoops Headlines

 

Gordon Campbell: On The Kavanaugh Case And Women’s Suffrage

On suffrage day when – reportedly – we celebrate women winning a political voice, and ensuring that their voices are heard, respected, and acted upon, despite all the attempts to ignore and silence them. More>>

Gordon Campbell: Are Only Old People Likely To Vote For Simon Bridges?

Around the world, young people seem to be gravitating to left wing policies and parties, leaving the old to prop up the conservative parties... the size of the gap suggests there’s more involved to this evolution than the usual clichés about the young being idealistic and the old being more realistic. More>>

Gordon Campbell: On The Fuss Over The PM’s Pacific Forum Trip

Truly, the abuse being levelled at PM Jacinda Ardern for doing her job at the Pacific Islands Forum shows just how much – and on how many levels – Ardern seems to enrage a goodly number of citizens. More>>

Gordon Campbell: On MP Pay And The REAL P.C. Danger Zone

There has never been anything remotely credible about the way parliamentarians would paint themselves as the helpless victims of the Remuneration Authority when it came to their pay increases... More>>