United States considered that the decision of the Organization of Petroleum Exporting Countries (OPEC) to cut production 2.2 million barrels per day as of the beginning of next year was illustration of the “short-sighted” and called on the Organization of the obligation to provide adequate supplies to the markets.

White House spokesman Tony Fratto ruled out that the decision of OPEC to cut production is effective with the shift in global demand and the ability of members of the Organization to achieve its objectives.

The spokesman called on OPEC to take into account the safety of the global economy pumping an adequate supply of markets.

The White House comments came after the OPEC meeting in the Algerian city of Oran on Wednesday that apply reduce the production of the first days of 2009 in order to balance supply and demand for fuel to decline rapidly.

Oil prices have dropped more than a hundred dollars since the record high set last July when it reached 147 $ a barrel. , Reaching their lowest level in more than four years on Wednesday after OPEC announced a record reduction in supply, traders said it could not compensate for decline in world demand for energy, crude oil fell 3.54 U.S. dollars to the settlement price is determined at 39.98 dollars a barrel.

The recession hit global demand and rising fuel inventories in the world and the prices of oil, while analysts believe that the oil market affected by global financial crisis.

 
The OPEC President and Algerian Energy and Mines Minister Chakib Khelil said OPEC will reduce production well and there is no other option for the organization.

Saudi Arabia has resorted to announce production cut ahead of a meeting of Oran to support prices to rise to the level of 75 $a barrel, which considered the Saudi King Abdullah a fair price.