Richardson says U.S. prefers no OPEC output cut
Published:
16 January 2001 y., Tuesday
U.S. Energy Secretary Bill Richardson urged OPEC on Sunday to agree on modest oil output cuts at its January meeting in order to spare the world economy any harmful effects from higher oil prices.
“U.S. feels there should be no production decrease,” Richardson said. “But we are realistic and it is important that any cut in January not aggravate the market.”
Richardson said Washington was “concerned with talk of output cuts of two to three million barrels per day (bpd), which will be very harmful to the world economy.” On Friday, Richardson said in Paris he would try to convince oil-producing nations to aim at maintaining the price of oil at $25 or $26 a barrel.
OPEC’s Secretary-General Ali Rodriguez said Friday that some members wanted a cut of 1 million barrels a day, while others were pushing for 1.5 million to 2 million barrels a day.
OPEC ministers will meet in Vienna on January 17 to agree on production cuts. Leading producer Saudi Arabia prefers a reduction of 1.5 million barrels per day, while other OPEC members have talked of cuts of up to two million bpd.
Šaltinis:
msnbc.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The EBRD is increasing the availability of financing to the real economy in Hungary, with a €50 million credit line to CIB Bank, including at least €10 million equivalent denominated in Hungarian Forint.
more »
At the end of March 2010, AB Bank SNORAS deposit portfolio exceeded LTL 5 billion, of which over LTL 3 billion are household deposits.
more »
In affirmation of Vietnam’s remarkable progress towards Middle Income Country status, the World Bank Board of Directors today approved a second loan for Vietnam from the International Bank of Reconstruction and Development (IBRD).
more »
The World Bank today approved a EUR26 million loan to the Republic of Croatia aimed at further improving the efficiency of Croatia’s justice system − a necessary process in Croatia’s path towards successful European Union accession.
more »
The ACP-EU Joint Parliamentary Assembly asked the European Commission to help EU and ACP banana producers adapt to the new EU-Latin America trade agreement, which is expected to put an end to fifteen years of “banana wars” between the two continents, but has raised concerns for the livelihood of some regions' producers.
more »
As seventeen of Africa’s 53 nations celebrate 50 years of independence in 2010, Africa’s “golden moment has come” and investors around the globe must look to the continent often painted only as risk-prone if they are to capitalize on business opportunities.
more »
During the ordinary general shareholders’ meeting of AB Bank SNORAS, which took place on 31st March 2010, the bank’s profit distribution was approved.
more »
The EU is the world's largest economy, with enough international clout to return to "real capitalism" rather than resign itself to an alien "financial capitalism", concluded MEPs and experts at a public hearing held on Thursday by Parliament's special committee on the crisis.
more »
Food quality and labelling are likely to be key issues when the Common Agriculture Policy is overhauled in the coming years.
more »
The European Investment Bank (EIB) is lending EUR 250 million to Russian company Enel OGK-5 to finance the upgrading of a gas fired power plant located in Nevinnomyssk, South Russia.
more »