CRI听力：OPEC Ministers Call for End to Overproduction
OPEC ministers called on Saturday for an end to overproduction by some members as they sought to slice nearly a million barrels per day from world supply and boost prices, but without further shocking the anaemic global economy.
Their comments suggested that Sunday's full meeting of OPEC might opt for a call on all members to honour production quotas, instead of deciding to slash output outright.(www.hxen.net)
When asked what he thought about the state of the global demand for oil, Saudi Oil Minister Ali Naimi would not say whether he expected any cuts to be made.
"That would be a guess, but you know, the global oil demand in 2009 is significantly less than 2008. You have to understand, the world economy is not as healthy as it should be. So you should expect demand, worldwide, to be down."
Prices are off their low of around 30 US dollars just a few weeks ago. That is well below the break-even point for producing nations, which could affect not only their national budgets, but oil production as well.
While a substantial output cut could cause prices to spike and increase OPEC revenues, it could prolong economic woes in the US and other major oil consumers.
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