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Indonesia says OPEC asking members to consider cutting output
AFP
JAKARTA
Petroleumworld.com 10 10 06
Indonesia's energy minister said Tuesday he had received a request from OPEC headquarters that cartel members consider cutting oil production by one million barrels per day (bpd) on a pro-rata basis.
"It (oil production) would be cut by one million bpd on pro-rata basis," energy minister Purnomo Yusgiantoro told reporters. He did not indicate when the proposed reduction would take effect or give any further details.
The 11-member Organization of Petroleum Exporting Countries cartel has maintained output at 28 million barrels per day since June 2005 but prices have fallen back since reaching record highs above 78 dollars in July.
In response, the president of OPEC, Nigerian oil minister Edmund Daukoru, proposed to cartel members that they cut their daily output by one million bpd in order to prevent too sharp a price pullback.
An OPEC spokesman said on Monday that no agreement on such a move had been reached yet.
AFP 10 0924 GMT 10 06
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