"But we believe time has not come to raise production. Today prices dropped and we believe there is enough supply on the market," he told reporters.
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OPEC Not Raise Output Quotas
OPEC doesn't plan to consider oil output raise because the falling prices...
OPEC doesn?t plan to consider oil output raise because the falling prices showed there is enough supply on the market, the group's chief Sheikh Ahmad Fahd al-Sabah said Wednesday.
He said he was consulting with cartel ministers, who agreed that the time has not come for another quotas hike, after a 500,000-barrel per day raise last week.
"But we believe time has not come to raise production. Today prices dropped and we believe there is enough supply on the market," he told reporters.
"But we believe time has not come to raise production. Today prices dropped and we believe there is enough supply on the market," he told reporters.
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