OPEC sees oil demand to decline

OPEC oil ministers will hold a meeting Tuesday in Vienna to review its current oil policy following the September 11 terrorist attacks on the U.S., which might trigger a global economic recession.

Expert staff of the ministry of energy and mineral resources Kardaya Warnika said Monday that the recent OPEC's board of governors meeting concluded the terrorist attacks may cause a global economic slowdown, which may cause world oil demand to decline by 800,000 barrel per day.

But he said that OPEC's current policy was to maintain current output quota and oil price at US$22-28 per barrel.(Godang)