Source:
ReutersOPEC happy with $60-$65 crude: Sec-GenThu May 17, 2007 8:55AM EDT
By Maryelle Demongeot
DENPASAR, Indonesia (Reuters) - OPEC would be pleased to
see oil prices remain at around $60 to $65 a barrel, the group's
secretary general said on Thursday, as he rebuffed consumer
nation concerns about summer crude supplies.
Abdullah al-Badri, in Bali for a meeting with top officials from
the International Energy Agency (IEA), also told Reuters that
OPEC would be unlikely to consider further output cuts unless
prices fell below $50 a barrel for over a month.
The comments may disappoint consumer nations who would like
the cartel to pump more crude ahead of the summer, but will
also provide some hope that the group might not rush to make
a third production cut should prices fall back sharply.
Asked if an oil price of $60-65 was fine, Badri said: "I think
I would agree with that. I don't want to see a low price and
I don't want to see a high price."
-snip-Read more:
http://www.reuters.com/article/reutersEdge/idUSSP10640820070517
Meanwhile:
Oil surges to $70 on U.S. gasoline concerns - Reuters