OPEC reduces oil production

Energy Ministers within the Organization of Petroleum Exporting Countries decided on Wednesday to reduce the oil production, in order to support the falling prices on the international market. The announcement was made on Saturday by the OPEC president Chakib Khelil, Reuters informs.

„There is a consensus on diminishing the production, but I can’t offer any other details, said the OPEC leader. The Energy ministers of the OPEC countries will meet again on Wednesday, in Oran. The meeting will be attended to by non-OPEC officials as well, including an Azerbaijan government representative.

The oil price fell almost 100 dollars, after reaching a maximum of 147.27 dollars per barrel in July 2008.