Venezuela and Nigeria, Both OPEC Members, Say They Will Cut Their Oil Production
Date: Saturday, September 30 @ 10:24:05 PDT
Topic: Production; Extraction; Exploration
Two of the oil cartel’s 11 members, Nigeria and Venezuela, said yesterday that they would make voluntary cuts in their production in response to oil prices that have fallen nearly 20 percent from their peak two months ago.
The modest move, which amounts to less than 200,000 barrels a day, comes after days of mixed signals from some OPEC officials who have been increasingly concerned about the rapid drop in prices.
New York Times
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