15 March 2001, 23:06  OPEC oil output cut talks focus on 1 mln bpd figure - Venezuela

VIENNA (AFX) - The negotiations within OPEC countries over oil production focus on a cut of around 1 mln barrels per day, Venezuela oil minister Alvara Silva Calderon said. Meanwhile, Iraqi oil minister Amer Rachid said that some OPEC member countries consider that a cut by 1.5 mln bpd is a little excessive. The Iraqi government favours a 1.5 mln bpd cut, therefore "we have to convince the other countries" to agree on this figure, Amer Rachid told journalists. He said a cut by 500,000 bpd is "out of the question".

© 1999-2024 Forex EuroClub
All rights reserved