TRIPOLI--Libya and Venezuela declared Sunday
they want a concerted decision at the heart of
OPEC on any increase in production, the official
Libyan news agency JANA reported. After a short
visit to Tripoli by Venezuelan Oil Minister Ali
Rodriguez, who is current OPEC president, said
AFP.
'The situation' on the crude market was at the
center of talks between Rodriguez and the director
of the national oil company Ali al-Badri, JANA
said. The two men agreed that the 'fluctuations on
the oil market are not down to supply and
demand, but the result of daily speculation on the
market'. As a result, said the agency, 'they are
agreed on taking adequate measures in concentration
with all the member state of OPEC to stabilize
the oil market in line with the June agreement 'on
an increase in the cartel's output of 708,000 barrels
per day.
The president of OPEC left Tripoli and is still to
visit Nigeria as part of his tour of member countries
aimed at studying the situation on the market
and the level of supply. He has already been to
Qatar, Kuwait, Saudi Arabia, the United Arab
Emirates, Iraq and Iran.
© 2000 Mena Report (www.menareport.com)
