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November 28, 2008
OPEC to consider third round of oil production cuts

Organization of the Petroleum Exporting Countries (OPEC) members are scheduled to meet this Saturday to discuss cutting production, with oil prices now around one-third of the record levels reached in July.

OPEC has already made two production cuts this year, totaling 2 million barrels a day.

Fadel Gheit, the managing director of oil and gas research for Oppenheimer and Company, speaks with Martin Savidge about the reasons for further production cuts, how these cuts would impact Saudi Arabia and prospects for a comprehensive energy plan.

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