ADVISORY/Experts Available to Discuss OPEC's Decision to Cut Oil Production.Business Editors ADVISORY... --(BUSINESS WIRE) TOPIC: The Organization of Petroleum Exporting Countries Organization of Petroleum Exporting Countries (OPEC), multinational organization (est. 1960, formally constituted 1961) that coordinates petroleum policies and economic aid among oil-producing nations. (OPEC OPEC: see Organization of Petroleum Exporting Countries. OPEC in full Organization of the Petroleum Exporting Countries Multinational organization established in 1960 to coordinate the petroleum production and export policies of its ) decided to cut oil production by 4 percent beginning this Thursday, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. an article by The Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. . Experts stated the decision may cause crude oil prices to increase, which is bad news for U.S. consumers who are already dealing with high gasoline prices. OPEC is expected to reduce the amount of oil produced from 24.5 million barrels per day Barrels per day (abbreviated BPD, bbl/d, bpd, bd or b/d) is a measurement used to describe the amount of crude oil (measured in barrels) produced or consumed by an entity in one day. to 23.5 million barrels per day. EXPERTS: ExpertSource can offer several highly qualified experts to comment on this story: Gareth Roberts Gareth Roberts may refer to:
Dr. Richard Browning has 25 years of corporate, government and consulting experience, as an economist and as an advisor. As an economist, he has specialized in the assessment of markets, especially oil, gas and petrochemicals, and global macroeconomic mac·ro·ec·o·nom·ics n. (used with a sing. verb) The study of the overall aspects and workings of a national economy, such as income, output, and the interrelationship among diverse economic sectors. and industry-specific business conditions. He has evaluated, developed and promoted the use of economic modeling applicable to integrated oil companies' planning and operating departments. He has developed models to assist companies and governments in the economic and financial evaluation of energy and infrastructure projects. Most recently, he has been involved in numerous domestic and international litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. cases, focusing on pricing of crude oil, petroleum products, retail gasoline price discrimination and damage analysis. 713-353-4736 James M. Griffin is a Professor of Economics and Public Policy in the George Bush School of Government and Public Service The George Bush School of Government and Public Service is a graduate public policy school at Texas A&M University in College Station, Texas. It is named for former President George H.W. Bush. The Bush School is part of the George Bush Presidential Library complex. at Texas A&M University. He holds the Bob Bullock chair in Public Policy and Finance. His fields of specialization include energy economics, antitrust, and regulatory issues. His textbook with Henry Steele was the leading text in the field of energy economics. Much of his academic research has focused on energy related topics ranging from analyses of OPEC and the world oil market to energy demand estimation. 979-694-2421 ExpertSource cannot guarantee the immediate availability of these experts or their familiarity with this specific issue. ExpertSource provides academic and industry experts to the media at no charge. Journalists are encouraged to submit queries to ExpertSource when seeking experts on specific subjects. An online registration form is available at http://www.businesswire.com/. |
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