Vol XXVII NO. 73 Tuesday 1 June 2004
Output rise short-term solution says OPEC BEIRUT: Saudi Arabia, Kuwait and the UAE could lift oil production by up to three million barrels per day but this could only bring down soaring oil prices in the short-term, an Opec official said here yesterday. "Almost immediately, three Opec countries can produce up to 3m barrels more. They are Saudi Arabia, Kuwait and the UAE," Omar Ibrahim, head of the Opec information department, said. . "But its effect will probably not last longer than 48 hours ... as supply and demand are not really the problem," he said on the sidelines of a Press conference ahead of Thursday's Opec extraordinary meeting in Beirut. "For a permanent solution ... we will have to look beyond supply and demand, we have to look at geopolitics and the US markets," he said. Ibrahim said Opec was "concerned about global security and stability ... and we are especially concerned about security in our member countries, including Saudi Arabia and Iraq." The attacks in Al Khobar sparked fears that world oil prices would shoot up further, though the effect was muted yesterday as major markets were closed for bank holidays. Saudi Arabia reasserted yesterday its vow to keep the country's taps open and deliver steady supplies of crude. Riyadh already has boosted output to pump more than 9m barrels daily in a bid to tame runaway prices, which threaten to pierce the $40 mark when markets reopen today. "Not one single barrel of our oil has been disrupted since the incident on Saturday," said Saudi petroleum consultant Hassan Yassin. "We are pumping and exporting the same amount of crude and will continue to do so." State-run oil giant Saudi Aramco was swift on Sunday to make clear that the shooting spree and hostage taking at Al Khobar had not affected its facilities or personnel. www.gulf-daily-news.com ====================================================== (Akan ada saatnya, permintaan minyak dunia akan semakin besar dari kapasitas terpasang semua negara penghasil minyak. Saat itulah harga minyak akan membumbung tinggi dan negara yang dulunya kaya akan minyak, akan gigit jari karena minyaknya sudah habis disebabkan dulunya ugal-ugalan di dalam memproduksi minyak) __________________________________________________ Do You Yahoo!? Tired of spam? Yahoo! Mail has the best spam protection around http://mail.yahoo.com [Non-text portions of this message have been removed] ------------------------ Yahoo! Groups Sponsor --------------------~--> Yahoo! Domains - Claim yours for only $14.70 http://us.click.yahoo.com/Z1wmxD/DREIAA/yQLSAA/BRUplB/TM --------------------------------------------------------------------~-> *************************************************************************** Berdikusi dg Santun & Elegan, dg Semangat Persahabatan. Menuju Indonesia yg Lebih Baik, in Commonality & Shared Destiny. www.arsip.da.ru *************************************************************************** __________________________________________________________________________ Mohon Perhatian: 1. Harap tdk. memposting/reply yg menyinggung SARA (kecuali sbg otokritik) 2. Pesan yg akan direply harap dihapus, kecuali yg akan dikomentari. 3. Lihat arsip sebelumnya, www.ppi-india.da.ru; 4. Posting: [EMAIL PROTECTED] 5. Satu email perhari: [EMAIL PROTECTED] 6. No-email/web only: [EMAIL PROTECTED] 7. kembali menerima email: [EMAIL PROTECTED] Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/ppiindia/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
