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OPEC to reduce oil output by 520,000 barrels a day
The Organization of the Petroleum Exporting Countries (OPEC) has decided to cut its production quotas by 520,000 barrels a day. OPEC oil ministers meeting in Vienna said they had decided to return to the production levels of September 2007 in order to prevent oil prices from falling too far. Since July, when crude prices spiked to nearly 150 US dollars, they have lost nearly 30 percent in value. An OPEC statement issued after oil ministers ended their meeting early on Wednesday said the organisation agreed to produce 28.8 million barrels a day.
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The Pakistani Army has been given orders to retaliate against any unilateral strike by the Afghanistan-based US troops inside the country.
Army Spokesman Maj Gen Athar Abbas confirmed the orders in a brief interview with Geo News on late Thursday night.
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