OPEC says it will keep oil production target unchanged скачать в хорошем качестве

OPEC says it will keep oil production target unchanged

(4 Dec 2003) 1. Various exteriors of OPEC building 2. Various shots of press conference 3. SOUNDBITE: (English) Omar Ibrahim, OPEC Spokesman: "Having observed that, despite poor revisions in oil demands and estimates, the crude oil market is well supplied, allowing the replenishment of commercial oil stocks to continue in (unintelligible). The conference decided to maintain currently agreed production levels until further notice." 4. Various shots of presser STORYLINE: The Organisation of Petroleum Exporting Countries (OPEC) announced on Thursday that it would hold its current oil production target steady but meet again in February to consider cutting output to match an expected decline in springtime demand. Spokesman Omar Ibrahim told a news conference that OPEC, which supplies about a third of the world's oil, will keep its daily production ceiling at 25.4 (m) million barrels of crude. Despite market fears that OPEC, led by Saudi Arabia, might seek permanently higher prices for crude, the group made no change in its desired price range of 22-28 US dollars per barrel. However, OPEC's 11 members decided to meet again on 10 February 2004 to reassess the possible need for a future cut, out of concern that prices might plunge during the second quarter of 2004, when demand typically ebbs to an annual low as warmer weather in the northern hemisphere reduces the need for home heating oil. OPEC's representatives reached their decision after more than three hours of private talks at the group's headquarters in Vienna. Rising oil exports from Iraq, together with increased output from Russia and other non-OPEC producers, have added to members' anxiety. Iraq produced 2.1 (m) million barrels a day last month, which exceeded expectations, and it aimed to boost output to 2.8 (m) million barrels by the end of March, according to Iraq's OPEC delegation in a communique. Although oil markets are currently well supplied, OPEC expects supplies to outstrip demand by 2.5 (m) million barrels a day in the second quarter if global production continues at current levels, according to the group's head of research, Adnan Shihab-Eldin. Find out more about AP Archive: http://www.aparchive.com/HowWeWork Twitter:   / ap_archive   Facebook:   / aparchives   ​​ Instagram:   / apnews   You can license this story through AP Archive: http://www.aparchive.com/metadata/you...