OPEC reaches oil output deal

http://www.euronews.net/ OPEC oil producers have agreed a new production limit that keep output at about the level it is currently.




Iran had wanted to cut production, which would boost prices. But Saudi Arabia's argument -- that levels should be maintained -- won out.




OPEC members agreed they would lower their outputs if world demand for crude drops.

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News & Politics

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• euronews
• economy
• OPEC

[Schneboll]

@Athenaikos Athenaikos Y U NO get my point about being one of the cog wheels in the machine ლ(ಠ益ಠლ

[Athenaikos]

@Schneboll - Politicos who don't understand the modern language of finance need to be put in jail and the key thrown away. Ignorance is dangerous and unforgivable. At a political level ignorance becomes a crime.

[Schneboll]

@Athenaikos No, I'm the political leader is but one wheel out of many in the machine. They don't need to know economics, only be able to repeat what people who do and are part of their political parties say to the rest.

[Athenaikos]

@Schneboll - you mean like Merkozy's understanding of economics? Are you kidding me? These are patented ignoramuses.

[Schneboll]

@Athenaikos Its not entirely that black and white. Political parties consist of all sorts of politicians. Those with charm and correct rhetoric and those with understanding for economics and so on and so forth. I'd say it's rather the fault of the people electing these representatives that wont learn some of them have proven to be scum bags and sell outs.

[Athenaikos]

@Schneboll - Unfortunately the political skills of the past are inadequate today. We need a new political class that understands economics and geostrategy better than they understand legislation. Politicos think of themslves as law givers when in fact they ought to be optimizers of public benefit.

[Schneboll]

@Athenaikos I agree with you. But most politicians and people do not - because they don't know better at present.

[Athenaikos]

@Schneboll - we should do it regardless. It's now a matter of national security.

[Schneboll]

Think they should have cut it like Iran wanted. Good motivator for other countries to put more money into researching alternative energy sources, hence improve the situation for all and everything.