{"id":2964,"date":"2014-12-14T07:47:46","date_gmt":"2014-12-14T12:47:46","guid":{"rendered":"http:\/\/olduvai.ca\/?p=2964"},"modified":"2014-12-14T07:47:46","modified_gmt":"2014-12-14T12:47:46","slug":"u-a-e-says-opec-wont-change-output-even-if-price-drops-to-40-bloomberg","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=2964","title":{"rendered":"U.A.E. Says OPEC Won\u2019t Change Output Even If Price Drops to $40 &#8211; Bloomberg"},"content":{"rendered":"<p><a href=\"http:\/\/www.bloomberg.com\/news\/2014-12-14\/u-a-e-says-opec-won-t-change-output-even-if-price-drops-to-40.html\">U.A.E. Says OPEC Won\u2019t Change Output Even If Price Drops to $40 &#8211; Bloomberg<\/a>.<\/p>\n<p style=\"box-sizing: border-box; margin-top: 0px; margin-bottom: 28px; font-size: 1.1em; line-height: 1.3125em;\">OPEC will stand by its decision not to cut crude output even if oil prices fall as low as $40 a barrel and will wait at least three months before considering an emergency meeting, the United Arab Emirates\u2019 energy minister said.<\/p>\n<p style=\"box-sizing: border-box; margin-top: 0px; margin-bottom: 28px; font-size: 1.1em; line-height: 1.3125em;\">OPEC won\u2019t immediately change its Nov. 27 decision to keep the group\u2019s collective output target unchanged at 30 million barrels a day, Suhail Al-Mazrouei said.<a style=\"box-sizing: border-box; cursor: pointer; color: #003399; text-decoration: none; outline-style: none; outline-width: initial; outline-color: initial; font-family: akzidenz-grotesk-std-bloom, Arial, Helvetica, sans-serif; font-style: normal; font-weight: bold;\" href=\"http:\/\/topics.bloomberg.com\/venezuela\/\">Venezuela<\/a>\u00a0supports an OPEC meeting given the price slide, though the country hasn\u2019t officially requested one, an official at Venezuela\u2019s foreign ministry said Dec. 12. OPEC is due to meet again on June 5.<\/p>\n<p style=\"box-sizing: border-box; margin-top: 0px; margin-bottom: 28px; font-size: 1.1em; line-height: 1.3125em;\">\u201cWe are not going to change our minds because the prices went to $60 or to $40,\u201d Mazrouei told Bloomberg at a conference in Dubai. \u201cWe\u2019re not targeting a price; the market will stabilize itself.\u201d Mazrouei said current conditions didn\u2019t justify an extraordinary OPEC meeting. \u201cWe need to wait for at least a quarter\u201d to consider an urgent session, he said.<\/p>\n<p style=\"box-sizing: border-box; margin-top: 0px; margin-bottom: 28px; font-size: 1.1em; line-height: 1.3125em;\"><!-- [if gte mso 9]><xml>\n <w:WordDocument>\n  <w:Zoom>0<\/w:Zoom>\n  <w:DisplayHorizontalDrawingGridEvery>0<\/w:DisplayHorizontalDrawingGridEvery>\n  <w:DisplayVerticalDrawingGridEvery>0<\/w:DisplayVerticalDrawingGridEvery>\n  <w:UseMarginsForDrawingGridOrigin\/>\n <\/w:WordDocument>\n<\/xml><![endif]--> <!--StartFragment--><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: 13.0pt; font-family: LucidaGrande; color: #282828;\">&#8230;click on the above link to read the rest of the article&#8230;<\/span><\/p>\n<p style=\"box-sizing: border-box; margin-top: 0px; margin-bottom: 28px; font-size: 1.1em; line-height: 1.3125em;\"><!--EndFragment--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.A.E. Says OPEC Won\u2019t Change Output Even If Price Drops to $40 &#8211; Bloomberg. OPEC will stand by its decision not to cut crude output even if oil prices fall as low as $40 a barrel and will wait at least three months before considering an emergency meeting, the United Arab Emirates\u2019 energy minister said. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[592,1775,600],"class_list":["post-2964","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-oil-price","tag-oil-price-collapse","tag-opec"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2964","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2964"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2964\/revisions"}],"predecessor-version":[{"id":2965,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2964\/revisions\/2965"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}