Venezuela's Silva: Mexico and Norway should help with market stabilization

Published March 6th, 2001 - 02:00 GMT

Venezuelan Oil Minister Alvaro Silva said Monday speaking to reporters outside the National Assembly, that he "trusts that Mexico and Norway are indeed going to collaborate in the stabilization of the (oil) market" with OPEC.  

 

On Monday, Norwegian Oil Minister Olav Akselsen said to reporters that he sees no current need to cut the country's oil exports given the "balanced (energy) market" at present. He added that Norway, might reconsider that position if oil prices continued to slip.  

 

"If a new situation occurs, we're willing to talk about doing anything" to bolster prices, according to news agencies.  

 

OPEC is to hold its semi-annual ministers meeting in Vienna later this month. 

 

Silva, for his part, also warned that oil inventories are "very close" to 80 days, a measure which, when reached, indicates a price fall could be in the offing.  

(petroleumworld)  

 

© 2001 Mena Report (www.menareport.com)

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