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Reply #4: Saudi, Kuwait call for OPEC output rollover to cool off prices [View All]

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ozymandius Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-06-06 06:15 AM
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4. Saudi, Kuwait call for OPEC output rollover to cool off prices
KUWAIT CITY (AFP) - Main Gulf oil producers Saudi Arabia and Kuwait called for
OPEC to maintain its current production ceiling in order to cool off high prices when the cartel meets in Vienna this week.

"I believe because of the ... (high) price, we have to maintain our production. I believe that still the prices are high. For that we have to help prices to be more stable," Kuwaiti Energy Minister Sheikh Ahmad Fahd al-Sabah told reporters.

In an interview published Monday, Saudi Oil Minister Ali al-Nuaimi also said that OPEC kingpin Saudi Arabia does not want the organization to cut its output ceiling of 28 million barrels per day (bpd) so as not to push prices further up when it meets on Wednesday.

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