Qatar Expects OPEC to Cut Oil Output by 1 Million Barrels a Day
By Maher Chmaytelli
Oct. 16 (Bloomberg) -- OPEC will likely cut oil output by 1 million barrels a day at its Oct. 24 meeting to check the drop in prices, Qatari Oil Minister Abdullah al-Attiyah said.
``It will be one million, or more,'' he told Qatar's al- Jazeera television channel. ``Prices have fallen a lot and we need to take measures.''
OPEC brought forward its planned meeting for next month in Vienna to Oct. 24 after crude prices slid to a 13-month low.
To contact the reporter on this story: Maher Chmaytelli in Cyprus at mchmaytelli@bloomberg.net
Last Updated: October 16, 2008 12:49 EDT
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