SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Strictly: Drilling and oil-field services
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: isopatch who wrote (90963)5/17/2001 2:19:16 AM
From: ronayre  Read Replies (1) of 95453
 
OPEC chief sees no change in oil quotas in June

Wednesday, May 16, 2001
By Reuters

CARACAS — OPEC Secretary-General Ali Rodriguez said on Wednesday the oil cartel would probably keep production quotas unchanged at a meeting planned for June 5, rejecting calls from consumer groups for more output.

"Were there a production increase now, it could have a negative impact on prices.... The most probable outcome is that production levels are maintained (in June)," Rodriguez told Reuters by telephone from OPEC's Vienna headquarters.

"However, we are being very vigilant because we want to maintain price stability," he added.

Rodriguez said the 11-member group stood ready to hold an emergency meeting between June and September to raise production if necessary.

Asked whether OPEC aimed to replace all 2.5 million barrels per day (bpd) of production cut in two stages in February and April this year, Rodriguez said it was "unlikely to happen this year because demand is not that great."

He cited the latest report issued by the International Energy Agency, showing global demand rising by just 1.0 million bpd this year, equivalent to the forecast growth in non-OPEC production.

Asked whether OPEC would put back the 1.0 million bpd that it cut in April, he said: "It is likely that this will be put back this year, but it depends on non-OPEC production
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News