Posts Tagged ‘Dongs’

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OPEC Sucks Donkey Dongs

OPEC Loves World Economic Crisis: Plans To Force Oil Prices Through The Roof

ALGIERS: Current OPEC President Chakib Khelil refused Saturday to rule out another cut in the cartel’s output if the price of crude oil remains below $70 per barrel before an OPEC meeting in December. “We have always said that our objective is $70 to $90 a barrel,” said Khelil, who is also Algeria’s energy minister, at an energy industry seminar in Algiers.

“If the barrel price does not reach this level, there will probably be another [production] cutback,” he said, adding however that there must be consensus among all OPEC nations, “and everyone has their own interests.” Oil prices closed mixed Friday after striking 21-month lows, with light sweet crude for delivery in December at $60.04 in New York and Brent North Sea crude for December at $57.35 in London. (more…)

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