OPEC rotating president says oil prices of 75 to 80 dollars are satisfactory
OPEC rotating president: oil prices at 75 to 80 dollars are satisfactory
Beijing time, November 16 evening news, according to foreign media reports, OPEC rotating president and Angolan Oil Minister Jose Maria Botelho de Vasconcelos said that an oil price of 75 to 80 dollars per barrel is satisfactory, and he also hinted that OPEC's December meeting may keep production unchanged.
Vasconcelos told reporters: "75 to 80 dollars per barrel is a good price for global economic recovery." International oil prices fluctuated within that range today.
Vasconcelos also said that OPEC's December 22 Luanda meeting may keep crude oil production unchanged, though it is "also prepared to increase output," and the December meeting "will discuss this."
He also said that crude oil is currently "oversupplied in the market."
Vasconcelos said that OPEC member countries' compliance rate with crude oil production quotas is "about 65%," and he is satisfied with that rate.
Vasconcelos told reporters: "75 to 80 dollars per barrel is a good price for global economic recovery." International oil prices fluctuated within that range today.
Vasconcelos also said that OPEC's December 22 Luanda meeting may keep crude oil production unchanged, though it is "also prepared to increase output," and the December meeting "will discuss this."
He also said that crude oil is currently "oversupplied in the market."
Vasconcelos said that OPEC member countries' compliance rate with crude oil production quotas is "about 65%," and he is satisfied with that rate.