Conscious / Oil Minister: No need at all to increase OPEC production at a meeting organized in September next
واع/مكتب انقرة Conscious / Office Ankara
24/8/2009 4:29pm 24/8/2009 4:29 pm
Oil Minister Hussain al-Shahristani said Monday that he saw no need at all to increase OPEC production in the OPEC meeting in September.
Shahristani told reporters in Istanbul statements transfer office (News Agency, Iraqi Information / conscious) that "indicators of global economic recovery will probably rise in oil demand in the near future, but at the same time, the crude reserves were higher than in the past five years.
Shahristani said on the sidelines of a meeting between Iraqi officials and oil industry executives that in order to achieve balance between supply and demand, OPEC members do not want to flood the market with oil do not buy Sun
Al-Shahristani said that oil production is still higher than global demand. Shahristani is in Turkey to view the plans of Iraq on the second round of fuel oil after the first round which took place in June.
OPEC meets on the ninth of September, and had pledged last year to cut output 4.2 million barrels a day to face the biggest drop in demand since 1981.
He said al-Shahristani said the commitment to supply cuts has been uneven and that some oil producing countries do not adhere to the decisions of OPEC and was considered an indication of non-positive.
When asked whether Iraq will be asked to greater discipline in the OPEC meeting, the minister said that Iraq would insist on it.
واع/مكتب انقرة Conscious / Office Ankara
24/8/2009 4:29pm 24/8/2009 4:29 pm
Oil Minister Hussain al-Shahristani said Monday that he saw no need at all to increase OPEC production in the OPEC meeting in September.
Shahristani told reporters in Istanbul statements transfer office (News Agency, Iraqi Information / conscious) that "indicators of global economic recovery will probably rise in oil demand in the near future, but at the same time, the crude reserves were higher than in the past five years.
Shahristani said on the sidelines of a meeting between Iraqi officials and oil industry executives that in order to achieve balance between supply and demand, OPEC members do not want to flood the market with oil do not buy Sun
Al-Shahristani said that oil production is still higher than global demand. Shahristani is in Turkey to view the plans of Iraq on the second round of fuel oil after the first round which took place in June.
OPEC meets on the ninth of September, and had pledged last year to cut output 4.2 million barrels a day to face the biggest drop in demand since 1981.
He said al-Shahristani said the commitment to supply cuts has been uneven and that some oil producing countries do not adhere to the decisions of OPEC and was considered an indication of non-positive.
When asked whether Iraq will be asked to greater discipline in the OPEC meeting, the minister said that Iraq would insist on it.