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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: GREENLAW4-7 who wrote (73345)	9/13/2000 7:20:44 PM
From: Second_Titan	Read Replies (2) \| Respond to of 95453

OPEC President Says Cartel Could Pump More This turkey really discredits his message when he includes his own country as having capacity. CARACAS, Sept 13 (AFP via energy24.com) - OPEC is capable of pumping an additional two million barrels per day if necessary, according to Venezuelan Energy Minister Ali Rodriguez. Printer-friendly version E-mail to colleagues Nonetheless Rodriguez, whose country holds the rotating presidency of the cartel, warned that a "grave crisis" could come to pass due to the output limitations of OPEC and non-OPEC countries, some of which are already at their maximum production levels. "If two million more barrels (per day) were needed in the market, Saudi Arabia and Venezuela have sufficient capacity to respond to predictable increases in demand in the immediate future," Rodriguez told a press conference. He added that the price per barrel of crude could rise as high as $40 briefly if the Northern Hemisphere winter brings unforeseen demand. "I am sure we are going to see the market balance out," Rodriguez said, warning, "in the middle and long-term, if investment levels and output are not maintained, there could be problems."