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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (2253)	3/16/2004 9:27:16 PM
From: mishedlo	Respond to of 116555

Kuwait ready to consider delaying OPEC output cut Tuesday, March 16, 2004 2:14:27 PM KUWAIT CITY (AFX) - Kuwait is ready to consider delaying a scheduled OPEC output cut next month provided there is a shortage in supplies and prices remain high, the emirate's energy minister said. "The delay is possible if we find that the surplus is less than 3.5 million barrels and prices are high because of demand," Sheikh Ahmad al-Fahd told reporters in parliament. "I believe it is the duty of OPEC to cooperate positively," he added. At a meeting in February in Algiers, OPEC decided to reduce on April 1 its production ceiling to 23.5 mln barrels per day from 24.5 mln. Venezuelan Energy Minister Rafael Ramirez said Monday that there was a "consensus" within the 11-member cartel to slash on April 1 both the official production ceiling and overproduction. fxstreet.com