OPEC Remarks May Pump Oil Price

Higher oil prices may be looming on the horizon once again after comments from Opec oil ministers over the weekend.

Venezuelan Oil Minister Rafael Ramirez said the oil cartel should consider cutting output to guard against a “collapse” in the cost of crude.

His Iranian counterpart Bijan Zanganeh said Opec was pumping at full capacity, well above daily output limits.

Oil prices have slipped from record levels but analysts warn that supply problems would push them back up.
BBC