Two key OPEC ministers hailed oil prices as “fair” on Thursday, showing little inclination to pump more crude to prevent oil prices that have rallied to more than a two-year high over USD 91 a barrel from stifling the global economic recovery.
with the participation of Syrian oil Minister Eng. Sufian AllawThe Organization of Arab Petroleum Exporting Countries (OAPEC) holds its 85th meeting in Cairo on the twenty fifth of December to discuss the topics on the agenda.
The Organization of Petroleum Exporting Countries could change its output ceiling if oil prices rise to $100 a barrel due to market fundamentals, the group’s secretary general said Thursday.
Iran’s OPEC governor Mohammad Ali Khatibi hopes the influence of a group of gas exporting nations will rise over the next 10 years to match that of OPEC, according to an interview published in Hamshahri daily.
Saudi Oil Minister Ali al-Nuaimi said he was satisfied with the current price of oil and saw no reason to change output quotas, as he arrived in Vienna Monday for an OPEC meeting later this week.
Oil ministers of the world’s leading producers in the Gulf wound up a joint meeting yesterday by vowing to achieve price stability on the international markets, ahead of an Opec meeting.
OPEC will not change its output quota at its next meeting on Oct. 14 in Vienna, Kuwaiti Oil Minister Sheikh Ahmad al-Abdullah al-Sabah said on Saturday on arriving here for trip expected to last several days.
It is an exclusive club of 12 member states that virtually sets the pace for the industrialised world. We are talking about the Organisation of Petroleum Exporting Countries, or Opec, which celebrates its 50th anniversary on September 14.
OPEC secretary general Abdullah al-Badri has said that he was comfortable with oil prices at their current level and he did not expect production levels to change between now and October.
The Board of Directors of Arab Petroleum Investments APICORP financial institution arising from the Organization of Arab Petroleum Exporting Countries OAPEC held its second meeting in Damascus on Saturday with the participation of Syria.
