Opinion Poll...
Should Rly minister be allowed to hold meeting in Lalgarh? |
|
`No need to change OPEC output ceiling' |
| Category »
Business Posted On Sunday, March 14, 2010 | Agencies
Abu Dhabi, Mar 14:
Iran said on Sunday there was no need to change OPEC's output ceiling at the oil producing cartel's meeting on March 17 in Vienna, the Iranian oil ministry'.
"There is no need to change the output ceiling in the next OPEC meeting ... OPEC will insist on the members' quota compliance in the next meeting," Iran's representative to OPEC, Mohammad Ali Khatibi, was quoted.
The Organization of the Petroleum Exporting Countries (OPEC) meets in Vienna on March 17 to review its oil supply policy.
It has left its output targets unchanged since December 2008 when it agreed to cut 4.2 million barrels per day (bpd) but compliance has waned to 53 percent.Khatibi also said the oil market would be oversupplied in the second half of 2010."If the current oil production continues, the oil market will face an oversupply in the second half of 2010 ... OPEC will ask its members to comply with their quotas until the economic crisis is over," Khatibi said
|
 Print
|  Mail it
|
|
Sunday, August 01, 2010