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OPEC nations could further reduce oil output if moves last month to slash production do not bolster plummeting oil prices, OPEC president Chakib Khelil said Saturday.
OPEC chief Chakib Khelil says the world's surging oil prices are not likely to fall.
OPEC President Chakib Khelil said Tuesday that oil producers saw no need to raise supply and blamed record oil prices on factors outside the cartel's control, such as U.S. pressure on Iran and the weak U.S. dollar.
OPEC Leader Khelil Says Dollar Will Drive Oil to $170 Bloomberg reports: OPEC President Chakib Khelil predicted that the price of oil will climb to $170 a barrel before the end of the year, citing the dollar's decline and political conflicts.
Opec chief dismisses Brown's call to boost production as 'irrational' Crude oil prices rose sharply on the world's commodity markets tonight after the head of Opec dismissed as "irrational and illogical" a call by Gordon Brown for the cartel to pump more oil.
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