Oil: OPEC ministers in Vienna, production should remain unchanged
Oil: OPEC ministers in Vienna, production should remain unchanged
Vienna, 04 Mar (Lusa) - The ministers of the 13 countries of OPEC began Monday to reach Vienna, the two days of a meeting during which should keep oil production unchanged, although it can not be excluded a reduction.
"I do not think that we have to play for now" in the production, said Choukri Ghanem, chairman of the national oil company Libyan, who is also Minister of Petroleum.
The production of the cartel is officially set at 29.67 million barrels a day for 12 countries submitted to the system of quotas (Iraq is excluded).
Without speak clearly about what OPEC will do Wednesday, the Energy minister of Qatar, Abdullah al-Attiyah, contacted by telephone, argued that the market was "well supplied" and that there was "considerable need for oil ".
For its part, his Algerian counterpart, Chakib Khelil, President of OPEC, has not excluded that the cartel restricting the production: said on arrival in Austrian capital that OPEC would choose between "a maintenance or a low" production.
On arrival in Vienna, the minister kuwaitiano settled themselves in repeating that an increase in production was not on the agenda.
The Venezuelan Rafael Ramirez, who reclamara in February a reduction in production to "defend the price" appeared today soften these statements, saying that OPEC should maintain its supply.
Already the Saudi Ali al-Nouaïmi opted for total silence reaching Vienna.
The cartel fears that a fall in demand in the second quarter could lead to a surplus in oil prices made back strongly: the consumption tends to decline at the end of winter and the expected economic slowdown in the United States and the industrialized countries could also result in a decline in demand for fuels.
However, given the record level of prices, roçaram today that the 104 US dollars a barrel, a reduction of the supply of crude the cartel, it will be politically difficult to accept by consumers.
Choukri Ghanem said that OPEC is concerned about the world economy "and the balance between" supply and demand "of crude. But Chakib Khelil estimated that the price increase is not due to a problem of supply, prior to investors who protect the devaluation of their assets in dollars buying oil and raw materials, as well as the geo-political tensions.
Most analysts estimate that OPEC is likely to maintain its production to 05 of March and meet up again in early May.
Moreover, the Algerian minister admitted that a meeting by the end of the summer it was perhaps "a bad idea".
Vienna, 04 Mar (Lusa) - The ministers of the 13 countries of OPEC began Monday to reach Vienna, the two days of a meeting during which should keep oil production unchanged, although it can not be excluded a reduction.
"I do not think that we have to play for now" in the production, said Choukri Ghanem, chairman of the national oil company Libyan, who is also Minister of Petroleum.
The production of the cartel is officially set at 29.67 million barrels a day for 12 countries submitted to the system of quotas (Iraq is excluded).
Without speak clearly about what OPEC will do Wednesday, the Energy minister of Qatar, Abdullah al-Attiyah, contacted by telephone, argued that the market was "well supplied" and that there was "considerable need for oil ".
For its part, his Algerian counterpart, Chakib Khelil, President of OPEC, has not excluded that the cartel restricting the production: said on arrival in Austrian capital that OPEC would choose between "a maintenance or a low" production.
On arrival in Vienna, the minister kuwaitiano settled themselves in repeating that an increase in production was not on the agenda.
The Venezuelan Rafael Ramirez, who reclamara in February a reduction in production to "defend the price" appeared today soften these statements, saying that OPEC should maintain its supply.
Already the Saudi Ali al-Nouaïmi opted for total silence reaching Vienna.
The cartel fears that a fall in demand in the second quarter could lead to a surplus in oil prices made back strongly: the consumption tends to decline at the end of winter and the expected economic slowdown in the United States and the industrialized countries could also result in a decline in demand for fuels.
However, given the record level of prices, roçaram today that the 104 US dollars a barrel, a reduction of the supply of crude the cartel, it will be politically difficult to accept by consumers.
Choukri Ghanem said that OPEC is concerned about the world economy "and the balance between" supply and demand "of crude. But Chakib Khelil estimated that the price increase is not due to a problem of supply, prior to investors who protect the devaluation of their assets in dollars buying oil and raw materials, as well as the geo-political tensions.
Most analysts estimate that OPEC is likely to maintain its production to 05 of March and meet up again in early May.
Moreover, the Algerian minister admitted that a meeting by the end of the summer it was perhaps "a bad idea".
posted by news of france at
5:05 AM
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