Indonesia supports 1.5-2.0 mln barrel/day output cut - minister
Wednesday, January 17 2001 - 04:00 AM WIB
Indonesian oil minister Purnomo Yusgiantoro said Indonesia supports a cut to the group's 26.7 million b/d output target of 1.5-2.0 million b/d, according to Dow Jones Newswire.
He spoke on arrival in Vienna ahead of OPEC's extraordinary meeting Wednesday.
He said a decision on the volume of the output cut would be made Wednesday.
"I support the cut but how much will be decided in the meeting," he said. "The proposal is clear, we want to cut."
He said OPEC delegates would wait for the report from the Ministerial Monitoring Sub-Committee, or MMC, before making a final decision on the volume of the cut. The MMC will meet later Tuesday or on Wednesday to analyse data and make a recommendation to the full ministerial meeting Wednesday. (*)