VOA标准英语10月-OPEC Output Cuts Roil Stock Markets

OPEC will cut its oil output by 1.5 million barrels a day starting in November, with chances of more cuts to come. But from Paris, Lisa Bryant reports the announcement was met by a further drop by financial markets.

OPEC hopes that by cutting output it can put a break on diving oil prices that have been dramatic in recent weeks. Crude oil is selling for 50 percent less than earlier in the year.
　

OPEC President Chakib Khelil (L) and OPEC secretary general Abdalla Salem El-Badri (R) at a press conference after an OPEC meeting in Vienna, 24 Oct 2008

The decision to cut output came during an emergency meeting in Vienna. Speaking to reporters afterwards, OPEC's president, Algerian oil minister Chakib Khelil, blamed the low oil prices on a drop in demand and on the current financial crisis.

"There are companies that are not able to pay for the oil," he said. "So it's not the effect on the financial market, it's the effect of the financial market on the supply. If your buyers are not going to be able to get credits from the banks, they are not going to be able to even buy the crude."

Khelil said OPEC may meet again before the cartel's planned gathering¹ in Algeria in December and it may cut prices yet again before the year is out. At the moment, OPEC is actually producing beyond its quota² of 29 million barrels a day. If it meets its quota and the planned cuts take place it would end up pumping about 1.8 million fewer barrels of oil a day.

Any hopes of an immediate³ reaction on the world financial markets were dashed. Stock markets plummeted⁴ Friday, as fears of recession continue to spread.

1 gathering   

n.集会，聚会，聚集

参考例句：

• He called on Mr. White to speak at the gathering.他请怀特先生在集会上讲话。
• He is on the wing gathering material for his novels.他正忙于为他的小说收集资料。

2 quota   

n.（生产、进出口等的）配额，（移民的）限额

参考例句：

• A restricted import quota was set for meat products.肉类产品设定了进口配额。
• He overfulfilled his production quota for two months running.他一连两个月超额完成生产指标。

3 immediate   

adj.立即的；直接的，最接近的；紧靠的

参考例句：

• His immediate neighbours felt it their duty to call.他的近邻认为他们有责任去拜访。
• We declared ourselves for the immediate convocation of the meeting.我们主张立即召开这个会议。

4 plummeted   

v.垂直落下，骤然跌落( plummet的过去式和过去分词 )

参考例句：

• Share prices plummeted to an all-time low. 股票价格暴跌到历史最低点。
• A plane plummeted to earth. 一架飞机一头栽向地面。 来自《简明英汉词典》