OPEC, independent producers set up contact group
OPEC and independent producers have set up a contact group to work for market stability, Iranian Oil Minister Bijan Namdar-Zangeneh said Tuesday, October 2. "One of the debates within OPEC is maintaining stability on the oil market with the help of non-OPEC countries," in the wake of the anti-US terror attacks, he said after a parliament meeting, quoted by the state news agency IRNA.
"A contact group has been set up between member countries and non-members of OPEC to negotiate with independent producers and stay informed of conditions for possible cooperation," he said.
The Organization of Petroleum Exporting Countries agreed at a Vienna meeting last week to leave output unchanged, but signaled it would cut output in the coming weeks if oil prices remained weak.
Non-OPEC producers such as Kazakhstan, Mexico, Norway, Oman and Russia took part in the meeting. ― (AFP, Tehran)
© Agence France Presse 2001
© 2001 Mena Report (www.menareport.com)