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Article: OPEC may increase production if prices surpass dlrs 28 a barrel, secretary general says
- Article from:
- AP Worldstream
- Article date:
- July 19, 2002
- Author:
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Dateline: CARACAS, Venezuela
OPEC may increase production if prices for crude surpass dlrs 28 per
barrel, secretary general Alvaro Silva said Friday.
Silva, attending the swearing-in of Venezuelan Oil Minister Rafael
Ramirez, said that "if prices top dlrs 28 a barrel, we could put more
oil on the market."
"We have the price band mechanism under which we increase production
if the price exceeds dlrs 28 a barrel and cut if prices fall below
dlrs 22 a barrel," Silva said.
He said it was too early to comment on any production decisions when
ministers of the Organization of Petroleum Exporting Countries meet
in September. Silva added he was "almost ...