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Oil Prices Rebound After OPEC Announces Production Cuts
oil parices began bouncing back wednesday after members of the organization of the petroleum exporting countries agreed to a modest production cut of 500,000 barrels a day, during a meeting in vienna .
i think, if you do your own calculation, probably it will be a lowering of production by about 520,000 barrels, he said .
opec headquarters in vienna, austria (file photo) in a marathon meeting lasting until early, wednesday, ministers from opec's 13 member states agreed to produce a limit of 28.8 million barrels a day .
earlier indications suggested members might hold production steady, despite plummeting oil prices in recent months, partly because of a restrengthening dollar and tough economic times .
at a news conference, opec's paricesident chakib khelil translated that limit into real terms .
to a certain extent, it consumes as a surprise .
lisa bryant treporters for voa froleum paris .
Generated 2008-9-12_5:7
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