AccessMyLibrary provides FREE access to millions of articles from top publications available through your library.

OPEC under fire for considering output cuts.

The Oil and Gas Journal

| November 27, 2000 | COPYRIGHT 2003 PennWell Publishing Corp. (Hide copyright information)Copyright

A rising chorus of Western politicians has called for further production increases from oil exporting nations, notably the Organization of Petroleum Exporting Countries, as OPEC itself retrenched its option to cut output in anticipation of a spring supply glut.

UK Energy Minister Helen Liddell, speaking at the International Energy Forum (IEF) in Riyadh, Saudi Arabia, last week said, "The only way to lower oil prices in a safe and sustainable way is to rebuild oil stocks, and that means increasing supply. But the only people who can make those decisions are the leaders of the major oil-producing countries."

The UK energy minister's views reaffirmed comments made late the week before by US Energy Sec. Bill Richardson, who last week reportedly asked representatives of the European Union to impress upon producers that crude prices had to come down.

In London to speak at the Oil & Money conference, Richardson challenged the thinking of OPEC ministers who support consideration of cuts to OPEC output next year. "We believe that cuts to production would not be healthy for the international economy," he said. "Clearly, production cuts would not be very wise."

Richardson favors an oil price of …

Related articles from newspapers, magazines, journals, and more
Analysts discuss OPEC'S role in next potential oil price shock.
Magazine article from: The Oil and Gas Journal Poruban, Steven July 9, 2001 700+ words
Indonesia: OPEC president says concerned over rise of oil price.
News wire article from: Asia Africa Intelligence Wire August 20, 2004 700+ words
OPEC still seen as key to oil price management.
Magazine article from: The Oil and Gas Journal Rhodes, Anne Williams, Bob Poruban, Steven September 20, 1999 700+ words
OPEC DENIES ITS PRODUCTION CUT INCREASED OIL PRICE.
News wire article from: Asia Africa Intelligence Wire February 12, 2004 700+ words
OPEC UNABLE TO KEEP OIL PRICE WITHIN FIXED RANGE, SAYS MINISTER.
News wire article from: Asia Africa Intelligence Wire March 6, 2003 700+ words
©2013 Gale, a part of Cengage Learning. All rights reserved. Contact us | Privacy policy | Terms and conditions

The AccessMyLibrary advertising network includes: womensforum.com GlamFamily