23 May 2007 - 14:54
  • News Code: 105433

Ministers of the Organization of Petroleum Exporting Countries are expected to meet June 21 in Vienna amid calls from consumers to increase output, Libya"s top oil official said.

They will meet with energy officials of the European Union, said National Oil Corp. chair Shokri Ghanem, right.

 

"It will be an opportunity for OPEC ministers to consult with each other and discuss the situation in the market; it will not be a formal OPEC meeting," he said from Tripoli late Sunday.

 

He doesn"t expect OPEC to backtrack on decisions to reduce its output by a total 1.7 million barrels a day, implemented in November 2006 and last February.

 

PIN/THESTAR.COM

News Code 105433

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