"We must know the size of the surplus in the market, and we should know the cause of the soaring price. If Members decide to delay the cut, due to high prices or a shortage of supply, undoubtedly OPEC will deal positively" with such a proposal, Sheikh Fahad said.
83
Highest Talk Yet of Delaying Cut
OPEC's much anticipated decision is just around the corner...
The Kuwaiti Energy Minister said on Tuesday that his country is ready to consider delaying a scheduled OPEC oil production cut next month, provided there is a shortage in supply and prices remain high.
Addressing reporters in parliament, he said: "The delay is possible if we find that the surplus is less than 3.5 million barrels and prices are high because of demand.
"We must know the size of the surplus in the market, and we should know the cause of the soaring price. If Members decide to delay the cut, due to high prices or a shortage of supply, undoubtedly OPEC will deal positively" with such a proposal, Sheikh Fahad said.
The Energy Minister made it clear that "the decision arrived at, at Algiers, is still valid and we should continue with it until we meet at the end of this month - March 31 - to review the market situation and discuss available information".
"We must know the size of the surplus in the market, and we should know the cause of the soaring price. If Members decide to delay the cut, due to high prices or a shortage of supply, undoubtedly OPEC will deal positively" with such a proposal, Sheikh Fahad said.
Подпишитесь
