9th September 2008 - Oil falls ahead of Opec meeting (BBC)

Suggestions by Saudi Oil Minister Ali Al Naimi that Opec should keep production at its current level produced a fall in the oil price. The price of oil is now around $102 a barrel, compared with its peak of $147 in July. The Saudi position is supported by Kuwait and the UAE, although Algeria,, Iran, Libya and Venezuela have argued a cut is needed to sustain the price.