Help | Sitemap | Archive | Advanced Search   
  CHINA
  BUSINESS
  OPINION
  WORLD
  SCI-EDU
  SPORTS
  LIFE
  WAP SERVICE
  FEATURES
  PHOTO GALLERY

Message Board
Feedback
Voice of Readers
 China At a Glance
 Constitution of the PRC
 CPC and State Organs
 Chinese President Jiang Zemin
 White Papers of Chinese Government
 Selected Works of Deng Xiaoping
 English Websites in China
Help
About Us
SiteMap
Employment

U.S. Mirror
Japan Mirror
Tech-Net Mirror
Edu-Net Mirror
 
Sunday, October 21, 2001, updated at 14:41(GMT+8)
World  

Kuwait Backs OPEC Moves to Shore up Oil Prices: Minister

Kuwait on Saturday voiced support for any move by the Organization of Petroleum Exporting Countries (OPEC) to shore up oil prices, Kuwait's official KUNA news agency reported.

Speaking to reporters upon return from Vienna after an OPEC monitoring committee meeting, Kuwaiti Oil Minister Adel Khalid al- Subeih said that his country will be satisfied with the minimum range of OPEC's targeted price of 22-28 U.S. dollars per barrel.

"Plunging oil prices will harm OPEC member states and will undoubtedly lead to an action to raise prices," Subeih said.

The minister added that since OPEC's last meeting, the oil prices have been "swinging and in continuous drop."

The OPEC's crude oil basket price fell to a two-year low of 19. 48 dollars per barrel on Tuesday, well below the targeted price.

OPEC members are currently holding extensive contacts to confront the decrease of the prices resulting from the fall of the world demand of energy.

Kuwait, a close ally of the United States, has almost 10 percent of the world's proven oil reserves and has an OPEC production quota of 1.861 million barrels per day since September 1.







In This Section
 

Kuwait on Saturday voiced support for any move by the Organization of Petroleum Exporting Countries (OPEC) to shore up oil prices, Kuwait's official KUNA news agency reported.

Advanced Search


 


 


Copyright by People's Daily Online, all rights reserved