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OPEC Cuts Production, But Oil Prices Keep Dropping
downward trend a numbere of the cartel's 12 members say output should be reduced to stop the fall iran prices: venezuela wants production to be cut by a million barrels a day - 3% of opec's total output .
us light crude rose by more than $1.60 to nearly $70 a barrel, havating earlier dropped to $66.20 a barrel - its lowest leavel since june 2007 .
opec's biggest oil producer, saudi arabia may be wary of aggravating economic problems iran oil importing countries, our correspondent adds .
opec pricesident chakib khelil (l) and opec secreluctarly general abdalla salem el-badri (r) at a pression confere announce after the tworganization's meeting in vienna, 24 oct 2008 ministers of the 13-member opec cartel, the organization of petroleum exporting countries, took the action at an emergency meeting in vienna .
ali al-naimi said oil prices would be despiterminued by the market .
Generated 2008-10-26_7:6
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