Through Indonesia, Australia asks OPEC press crude oil prices
Wednesday, August 30 2000 - 03:30 AM WIB
Australian Trade Minister Mark Fail said that his government had asked Indonesia's help to present Australia's demand for the Organization of Petroleum Exporting Countries (OPEC) to press international crude oil prices at the current level and not increase again.
In a meeting with Indonesian Minister of Energy and Mineral Resources Purnomo Yusgiantoro, Fail asked Purnomo to present Australia's demand for OPEC oil cartel to increase its crude production so that it would eventually help bring down oil prices.
OPEC will decide whether to increase production in its next ministerial meeting in Geneva on Sept. 10. OPEC will increase production if oil prices stay above $28 per barrel for 20 consecutive trading days.
In the meeting with Purnomo, Fail also expressed Australia's concerns over security issues in mining operations in which many Australian companies are involved.
He called on the Indonesian government to ensure security for Australian companies' mining operation in Indonesia because Australia had a significant investment in Indonesia's mining sector. (*)