ID :
14284
Wed, 07/30/2008 - 08:01
Auther :
Shortlink :
http://m.oananews.org//node/14284
The shortlink copeid
OPEC NOT TO RAISE OIL OUTPUT
Jakarta, July 29 (ANTARA) - Organization of Petroleum Exporting Countries (OPEC) President Chakib Khelil said the oil cartel will not increase its oil output even in the next winter.
Speaking to the press after presenting his paper before Indonesian energy stakeholders here on Tuesday, he said OPEC is currently having an overproduction.
"We are still waiting for what the next winter will be like. But we feel it unnecessary to increase supplies," he said.
Only recently, OPEC raised its oil production from Saudi Arabia.
Khelil said he did not agree if the cartel raised production merely because global crude prices soared.
As a matter of fact, global crude prices fell to US$125 now from US$140 a barrel previously, he said.
Khelil said the trend in global crude price hikes in the first half of 2008 was the same as the first semester last year.
The US dollar's exchange rate also influenced global crude prices, he said.
Speaking to the press after presenting his paper before Indonesian energy stakeholders here on Tuesday, he said OPEC is currently having an overproduction.
"We are still waiting for what the next winter will be like. But we feel it unnecessary to increase supplies," he said.
Only recently, OPEC raised its oil production from Saudi Arabia.
Khelil said he did not agree if the cartel raised production merely because global crude prices soared.
As a matter of fact, global crude prices fell to US$125 now from US$140 a barrel previously, he said.
Khelil said the trend in global crude price hikes in the first half of 2008 was the same as the first semester last year.
The US dollar's exchange rate also influenced global crude prices, he said.
