VOA标准英语2008年-Oil Prices Rebound After OPEC Announces Product

（单词翻译）

Oil prices began bouncing back Wednesday after members of the Organization of the Petroleum¹ Exporting Countries agreed to a modest production cut of 500,000 barrels a day, during a meeting in Vienna. Lisa Bryant reports for VOA from Paris.
　
OPEC headquarters in Vienna, Austria (file photo)

In a marathon meeting lasting² until early Wednesday, ministers from OPEC's 13 member states agreed to produce a limit of 28.8 million barrels a day. At a news conference, OPEC President Chakib Khelil translated that limit into real terms.

"I think, if you do your own calculation, probably it will be a lowering of production by about 520,000 barrels," he said."

Khelil says the decision takes effect immediately, with a 40-day time frame for it to be implemented³. To a certain extent, it comes as a surprise. Earlier indications suggested members might hold production steady, despite plummeting⁴ oil prices in recent months, partly because of a restrengthening dollar and tough economic times. They fell below $100 a barrel, Tuesday, for the first time since April.

Khelil suggests that trend might continue, despite OPEC's production cut.

"My hunch⁵ is probably the price will still be going down, despite the decisions that we're making," Khelil said. "So, I don't think this will affect the consumers in any way because, first of all, there is an over supply, everybody agrees with that

Analysts⁶ are divided over whether prices will continue to fall. Some suggest that more storms such as those that have battered⁷ the Caribbean and the United States could cause prices to rise.