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Article: Oil ministers agree to cut output rate.
- Article from:
- The Oil Daily
- Article date:
- October 24, 1984
CopyrightCOPYRIGHT 1984 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Oil Ministers Agree to Cut Output Rate
Six OPEC oil ministers, joined for the first time by Mexico and Egypt, were to leave Geneva after agreeing in principle on a temporary production cutback to maintain oil prices at current levels, officials said Tuesday.
Venezuelan Oil Minister Arturo Hernandez Grisanti said the meeting of oil ministers had "reached an understanding that there should be a temporary reduction of production levels which should limit the flow of oil to the spot market.'
Hernandez Grisanti said in a written statement he was confident that next Monday's OPEC ministerial meeting will "support the measures proposed by the group of ...