OPEC remains committed to $22-$28 price band

Published June 5th, 2001 - 02:00 GMT

OPEC will stick to its oil price target of between $22 and $28 a barrel, Qatari Energy Minister Abdullah bin Hamad al-Attiya said Monday, June 4, on the eve of the cartel's meeting in Vienna.  

 

"OPEC remains committed to the price band mechanism for the OPEC basket (of crudes), set at a maximum of $28 a barrel and a minimum of $22," he said before leaving for Vienna. 

Attiya said "the market is currently going through a period of stability in terms of supply and demand," without making reference to Iraq's halt in oil exports on Monday. "Crude prices for the OPEC basket have been stable," he said. — (AFP) 

 

© Agence France Presse  

 

 

© 2001 Mena Report (www.menareport.com)

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