Indonesia to ask OPEC to maintain current output
Tuesday, June 18 2002 - 05:20 AM WIB
Indonesia will propose in this month?s meeting of the Organization of Petroleum Exporting Countries (OPEC) that the cartel maintain its current oil output, Minister of Energy and Mineral Resources Purnomo Yusgiantoro said on Tuesday.
?We will propose for a roll over unless OPEC members want output change,? Purnomo told Petromindo.com and Reuters.
OPEC members are scheduled to meet in Vienna on June 26 to decide whether to maintain its current oil output until the end of 2002.
The organization is under pressure from consumer countries to increase output amid concern that high oil prices could hinder the recovery of the global economy.
OPEC slashed production by 1.5 million barrels per day from January for a period of six months, under an agreement with leading non-OPEC oil exporters to haul prices out of a steep post-September 11 slump. (Godang)