Yusgiantoro added, "The organization, once again, wishes to reiterate its commitment to maintaining market stability and ensuring a timely response to the supply needs of the market."
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OPEC Still Produce Extra 1.5 M bpd
OPEC continues to produce 1-1.5 million barrels per day to immediately increase supplies of crude oil
OPEC continues to produce 1-1.5 million barrels per day to immediately increase supplies of crude oil.
OPEC President Purnomo Yusgiantoro said, "OPEC continues to hold, at present, a spare production capacity of around 1-1.5 million bpd, which would allow for an immediate additional increase in production."
"Furthermore, in response to expected future demand growth in the coming years, member countries have plans in place to further increase production capacity by around one million bpd towards the end of this year and in 2005," he added.
Yusgiantoro added, "The organization, once again, wishes to reiterate its commitment to maintaining market stability and ensuring a timely response to the supply needs of the market."
Yusgiantoro added, "The organization, once again, wishes to reiterate its commitment to maintaining market stability and ensuring a timely response to the supply needs of the market."
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