Baku - APA-Economics. Opec’s oil ministers will discuss raising production when they meet next week, the first increase in almost four years and a sign the oil cartel is responding to fears about the economic damage caused by prices above $100 per barrel. The International Energy Agency, the west’s oil watchdog, last month urged Opec to boost output, saying that there was a “clear, urgent need for additional supplies†to cool down oil prices and avoid derailing economic recovery.
With the maintenance season for refineries ending across the globe this month, heralding a steep rise in demand for crude, an Opec delegate confirmed that a formal change in the cartel’s production policy would be discussed at the June 8 gathering.
But analysts and consultants warned that securing agreement at the meeting in Vienna would be exceptionally difficult.
Opec hints it could raise oil supplies for first time in four years
03 June 2011 08:10 (UTC +04:00)
İDMAN XƏBƏR
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