OPEC agrees on maintaining its quotas
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ennahar
VIENNA - OPEC members have agreed to leave production quotas cartel "as" at its ministerial meeting which began in Vienna on Wednesday said Saudi Oil Minister Ali Al-Nuaimi.
- "The agreement makes no doubt," said Mr. Al-Nuaimi shortly before the opening of the meeting of the Organization of Petroleum Exporting Countries (OPEC) in Vienna.
Asked about the decision taken in this OPEC meeting, the minister reiterated: "Leaving things as they are. We're very happy with the current situation".
The cartel’s quotas of crude oil production are set at 24.84 million barrels per day (bpd) since 1 January 2009. OPEC will officially confirm Wednesday and a fifth consecutive renewal of its quotas.
"A good demand, a reliable supply, and perfect prices: we are very happy," said Al Nuaimi.
Oil prices have quickly recovered from their slump in the winter of 2009, when the barrel had been close to 30 dollars. For six months, they work in a range from 70 to 80 dollars per barrel, considered ideal by the producers to continue to invest.
Several ministers, however, claimed on arrival in Vienna a better respect of production quotas. A call to discipline and could be included in the final communiqué of the meeting. - Ennaharonline/ M. O
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