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To: maceng2 who wrote (663)	12/13/2004 1:09:20 AM
From: maceng2	Read Replies (1) \| Respond to of 1417

OPEC sees 1 million barrels per day demand drop in 2005 12-13-2004, 05h30 turkishpress.com Evaristo Sa - (AFP/File) JAKARTA (AFP) - Worldwide demand for oil is expected to drop by about one million barrels per day by the second quarter of 2005 after the northern hemisphere's winter season ends, OPEC's president said. But Purnomo Yusgiantoro said no decision on cutting output quotas would be made until the organisation's next meeting in Vienna early in the new year. "Let's see on Jan. 30," Yusgiantoro, who is also Indonesia's energy minister, told reporters on the sidelines of a conference in Jakarta. OPEC left unchanged its output quota of 27 million barrels per day at a meeting in Cairo last week, but agreed to scale back surplus production to try to regain control of the market after pumping close to capacity for months. World crude oil prices fell sharply Friday as traders ignored news of the modest OPEC production cut with prices viewed as still too high as energy stockpiles expand.