Opec heads of state riding an oil price boom began a summit yesterday offering dialogue but no guarantee of action to consuming countries racked by high energy costs.
Cartel President Ali Rodriguez said the group was ready to meet the European Union to discuss the energy situation but would not do so under pressure.
“We are ready if the EU wants to have a meeting but not on the basis of pressure and not on the basis that we have to yield,” he said. “We are all sovereign and we should meet on an equal basis,” he said shortly before the Opec opened a two-day summit in a ceremony featuring a choir and a military honour guard.
Saudi Oil Minister Ali Al Naimi said the group need not wait for a policy-making meeting in November to adjust output to stabilise prices.
“We tried three times in the current year to lower prices and we will continue working to reach moderate prices,” Naimi told the Saudi owned Al Hayat daily. “We agreed to meet on November 12 in Vienna to discuss the possibility of increasing production another time and we can, despite that, take an initiative at any time,” he added. – AFP
©--Agence France Presse.