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OPEC unlikely to change output at current price: Libya
PARIS
Petroleumworld.com, Feb 29, 2008OPEC is unlikely to change its production level at a meeting next week if the oil price stays at about 100 dollars per barrel, acting Libyan Oil Minister Chukri Ghanem told AFP on Friday.
Ghanem said of Wednesday's OPEC meeting that "I think we won't do anything" if the price of oil remains around current levels.
Ghanem, who is the head of the Libyan national oil company and is acting as oil minister, also told AFP by telephone that he expected the price to remain at about 100 dollars per barrel.
The price of oil has risen strongly to new high points recently and was being quoted at nearly 103 dollars per barrel in New York late on Thursday.
The Organisation of Petroleum Exporting Countries, comprising 13 countries including Libya, is to meet in Vienna on Wednesday to reconsider its production ceiling of 29.67 million barrels per day, excluding output by Iraq.
Story from AFP
AFP 29 0925 GMT 02 08Copyright© 2007 Petroleumworld. All rights reserved.
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