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Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.

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sketch

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OPEC to cut production by 500,000 a day

posted on Sep 09, 2008 06:27PM

Makes you wonder why gold miners don't have their own cartel to reduce production when the commodity price falls.

OPEC members agree to roll back output to September 07 level

By Chris Oliver

Last update: 10:16 p.m. EDT Sept. 9, 2008

HONG KONG (MarketWatch) -- OPEC members have agreed to roll back oil production to quotas agreed in September 2007, a level that will cut output by about 500,000 barrels a day. An OPEC statement issued at the conclusion of its meeting Wednesday said the organization agreed to produce 28.8 million barrels a day. An Associated Press report cited OPEC President Chakib Khelil as saying the quota meant that member countries agreed cut back production by 530,000 barrels a per day.

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