Purnomo says average OPEC basket price $30 is desireable
Thursday, December 16 2004 - 01:26 AM WIB
An average price of $30 a barrel for the Organization of Petroleum Exporting Countries' basket price is desirable, The Jakarta Post reported on Wednesday on its website quoting OPEC's President Purnomo Yusgiantoro as saying.
"We're still using the $22-28 price band, but if we're going to amend it to take into account inflation and the depreciation of the dollar it would probably reach an average of $30," he said.
On Monday, OPEC's basket price which is an average of seven crude oils, was $33.99. In November, the basket price averaged $38.96 a barrel.
Purnomo is also Indonesia's energy minister. (*)