Purnomo has continually said that OPEC was producing above its official production ceiling of 23.5 million barrels a day to cool down oil prices, which last month hit a 13-year high for U.S. benchmark crude futures.
140
OPEC: High Oil Prices Not Eternal
Today, OPEC president Purnomo Yusgiantoro stated that the cartel is firm in its policy to allow
Today, OPEC president Purnomo Yusgiantoro stated that the cartel is firm in its policy to allow leakage in output above official limits to cool oil prices, which have nothing to do with supply/demand imbalances.
"Current high oil prices are non-fundamental and are due to issues in Iraq and Venezuela and because of refinery shutdowns in Europe, the U.S. and Saudi Arabia," Purnomo said.
He added that demand for oil in China was also growing.
Purnomo has continually said that OPEC was producing above its official production ceiling of 23.5 million barrels a day to cool down oil prices, which last month hit a 13-year high for U.S. benchmark crude futures.
Purnomo has continually said that OPEC was producing above its official production ceiling of 23.5 million barrels a day to cool down oil prices, which last month hit a 13-year high for U.S. benchmark crude futures.
Подпишитесь
