ID :
164900
Tue, 03/01/2011 - 08:59
Auther :
Shortlink :
https://www.oananews.org//node/164900
The shortlink copeid
Iran urges OPEC members to avoid hasty decisions
TEHRAN,Mar.1(MNA)-- Iranian Oil Minister Massoud Mirkazemi urged Saudi Arabia on Sunday to refrain from taking a hasty decision on increasing its oil production after the popular uprising in Libya.
"OPEC(the Organization of Petroleum-Exporting Countries)has not decided on holding an emergency meeting to discuss the production increase ... Saudi Arabia should avoid taking any hasty decision on increasing its production ... and should avoid taking any such decision independently ... There is no need to increase production," Mirkazemi told .
Oil prices have surged toward $120 a barrel because of the unrest and disruption to supply in Libya. Refineries in Europe import about 80 percent of Libya's 1.3 million barrels per day (bpd) of exports, analysts say.
On Thursday, top world oil exporter Saudi Arabia said it was in talks with European companies affected by the disruption in Libyan supply and was willing and able to plug any gaps in supply.
The Saudi sources said Saudi Arabia was able to pump more of the kind of high-quality crude produced by OPEC member Libya and that it could be shipped quickly to Europe with the help of a pipeline that crosses the kingdom.
"OPEC(the Organization of Petroleum-Exporting Countries)has not decided on holding an emergency meeting to discuss the production increase ... Saudi Arabia should avoid taking any hasty decision on increasing its production ... and should avoid taking any such decision independently ... There is no need to increase production," Mirkazemi told .
Oil prices have surged toward $120 a barrel because of the unrest and disruption to supply in Libya. Refineries in Europe import about 80 percent of Libya's 1.3 million barrels per day (bpd) of exports, analysts say.
On Thursday, top world oil exporter Saudi Arabia said it was in talks with European companies affected by the disruption in Libyan supply and was willing and able to plug any gaps in supply.
The Saudi sources said Saudi Arabia was able to pump more of the kind of high-quality crude produced by OPEC member Libya and that it could be shipped quickly to Europe with the help of a pipeline that crosses the kingdom.
