OPEC ministers rule out ouput cut in Cairo


AFP

CAIRO — Iran, Kuwait and Qatar’s oil ministers said on Friday that OPEC was likely to delay a decision on whether to cut crude production until next month’s meeting in Algeria. “Here we will prepare some data and maybe the final decision will be in Algeria,” Iran’s Gholam Hossein Nozari told reporters on his arrival in the Egyptian capital ahead of an OPEC meeting on Saturday.

Qatar’s Abdullah al-Attiyah also said a decision to cut production to shore up prices which have slumped to around 50 dollars a barrel “will likely be taken in Algeria.”