To: Evolution who wrote (1438 ) 3/12/2001 4:23:32 PM From: Gottfried Read Replies (1) | Respond to Evolution, Babel Fish translation...Ryad announces that OPEC will reduce its production RYAD, March 12 (AFP) - Saudi Arabia announced Monday that the countries of OPEC were to decide on a fall of their production so as to guarantee balance between supply and demand, following dialogues with Venezuela and Mexico. " OPEC will decide on a reduction of its production so as to preserve the courses of the crude on their level discounted of 25 dollars the barrel and to guarantee balance between supply and demand ", declared the minister saoudien Oil Ali Al-Nouaïmi, without advancing volume. It affirmed in an official statement, published at the end of a tripartite meeting with Ryad with its counterparts vénézuélien Alvaro Silva Calderon and Mexican Ernesto Martens, that " the three countries had underlined the need for carrying out a reduction of the production on behalf of the producer countries " members of OPEC or not. The minister added that the next reduction of OPEC " will also hold account current crude stocks and those envisaged during next months ". Mr. Nouaïmi indicated to have examined with his counterparts " all the means to implement to guarantee stability (...) and balances it between supply and demand on the oil market ". Arabia and Venezuela are influential members within OPEC, whose ministerial meeting is envisaged Friday in Vienna to come to a conclusion about a possible reduction of the production of the trust. In a united official statement, the three countries reaffirmed " their engagement to guarantee a stable and balanced oil market, on a level of reasonable price for the consumers and the producers ". " With this intention, all the producers, members or not of OPEC, must continue their co-operation to guarantee the market equilibrium ", according to the text. The three countries also affirmed " the need for establishing a balance between the deliveries of the crude and the request with an aim of maintaining the courses at the level discounted of 25 dollars the barrel ". With London, it
