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Crude Exporters Okay 2.6 Million BDP Output Cut.
MEMBERS of the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC oil exporters took action yesterday that could remove up to 2.6 million barrels of oil from the market in a bold bid to boost prices and producers' incomes in a global market hit by recession.
However, imminent scarcity of petroleum products looms across the country ahead of next week's Christmas as Petroleum Tanker Drivers (PTD), yesterday, began an indefinite withdrawal of their trucks from Lagos roads over alleged extortion, harassment and intimidation by officials of the Lagos State Transport Management Authority (LASTMA).
Ali al-Nuaimi, the Saudi Arabian oil minister said the 13-nation OPEC cartel had agreed at a meeting on an OPEC production cut of two million barrels a day, its largest ever and equivalent to …
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