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Lukman: OPEC to hold output steady if prices stay high
AFP
Rilwanu Lukman, ex OPEC president and advisor to the Nigerian president
PARIS
Petroleumworld.com Feb. 28 2008Oil exporting group OPEC, which meets next week to set its production level, is unlikely to cut output if prices remain at their current record levels, a top Nigerian official said on Wednesday.
Fear that the Organisation of Petroleum Exporting Countries could reduce its output has been one of the factors driving oil prices to their current levels above 100 dollars per barr1el.
"If prices don't fall, I don't think that they will lower their production now," an oil advisor to the Nigerian president, Rilwanu Lukman, told AFP.
"If prices remain between 90 and 100 dollars, I think it is unlikely that they do something," he said when contacted by telephone.
Nigeria is Africa's biggest producer of crude oil and is a member of OPEC.
Ministers from the 13 member countries of OPEC are to meet at the organisation's headquarters in Vienna next Wednesday to decide on their output policy.
Story from AFP
AFP 271857 GMT 02 08
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