Opec's Secretary General Ali Rodriguez, said on Wednesday
to Energy News live that on recommendation from OPEC's economic commission board, which met earlier this week, ministers will look at the composition of OPEC's basket of seven crude oils.
Rodriguez added on the production cut, that the cut is as a preventive measure to avoid a price slump. He declined to forecast how much OPEC will cut production by at a meeting in Vienna Friday.
The Ministers will evaluated the different alternatives and examine the feasibility of shifting the balance to reflect more lightweight cruds, but this week's meeting isn't likely to yield a decision on changing the composition of the basket, though it provides an opportunity to discuss the issue, Rodriguez told Wolfgang Vale reporter of Energy news live, in an exclusive internet-TV interview.
By Elio Ohep
© 2001 Mena Report (www.menareport.com)