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To: patron_anejo_por_favor who wrote (18948)	9/15/2000 5:45:11 PM
From: Ken98	Respond to of 436258

<<Kuwait cannot produce at new quota "We in Kuwait received an extra production quota of 64,000 barrels per day, but we do not have the production capacity to do that," he added. "We have to talk about the available production capacity. This capacity in OPEC countries is being utilised to the maximum, while Saudi Arabia and the United Arab Emirates have a margin of extra capacity. "Kuwait does not have an extra production capacity and we are currently producing at maximum capability because we have problems at some gathering centres and we cannot increase one barrel to what we are producing," Sheikh Saud added. Asked if the next OPEC meeting in November would agree to increase production if prices remained high, the Kuwait oil minister said: "We did not agree to increase production. We said we will meet on November 12 to evaluate the oil market. I want to ask, if we meet on November 12 and the price was still high what do we do? "We will apply the price mechanism if the oil price is over $28 a barrel we will increase production by half a million bpd, but who in OPEC can add half a million bpd to its current production?" he asked. Asked about his comments on oil prices continuing to rise this year, he said: "I called this trend of high prices as a correctional price. The issue is not that of rising prices, it is a correctional move of an oil price which was.">> cnn.com