f-h Oni BW sb & Friends-TTT, Donnerstach 17.03.05

OPEC scheint ziemlich nervös zu sein...schon wieder ne neue Ankündigung....

Associated Press
OPEC May Consider Another Production Hike
Thursday March 17, 1:23 pm ET  
OPEC Says Will Consider Another Production Hike of 500K Barrels if Prices Don't Fall in 10 Days


KUWAIT CITY (AP) -- OPEC will consider another production hike of 500,000 barrels a day if oil prices don't fall in the next 10 days, the group's president said Thursday.
"As OPEC, we will continue to watch the market closely," said Sheik Ahmed Fahd Al Ahmed Al Sabah, who is also Kuwait's energy minister.

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"We believe that if prices stay as they are in the next seven to 10 days, we will start contacting minister colleagues to discuss the other 500,000 (barrels a day) that the president has the authority (to decide on) after consultations."

Members of the Organization of Oil Exporting Countries decided at a meeting in Isfahan, Iran, on Wednesday to authorize an immediate increase in the group's output ceiling of 500,000 barrels a day, and another increase of similar magnitude later.

Sheik Ahmed was speaking to reporters after his return from Isfahan.

OPEC's increase on Wednesday failed to impress the oil markets. The price of crude on the New York market soared to a new intraday high of over $56 a barrel in response to a petroleum supply report from the U.S. government that showed domestic supplies of gasoline and heating oil had fallen sharply last week.

OPEC's acting secretary general, Adnan Shihab-Eldin, said Wednesday's closing oil price was not the result the group expected. "Prices should have eased," he said.