Business News
Oil prices sink further ahead of OPEC special meeting
Oct 19, 2006, 17:22 GMT
Vienna After a brief rise, crude oil prices eased again Thursday ahead of a planned emergency meeting of the Organization of Petroleum Exporting Countries (OPEC).
OPEC ministers will meet Thursday evening in Qatars capital Doha.
The OPEC Secretariat in Vienna said its daily basket price for one barrel of crude oil (159 litres) stood at 55.27 dollars, 90 cents less than on the previous day's reference price of 56.17 dollars.
At the Doha meeting OPEC member states will discuss output reductions in order to stabilize prices. According to reports from Qatar, production cuts of more than one million barrel per day are to be discussed.
© 2006 dpa - Deutsche Presse-AgenturCOMMENT
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