Gulf OPEC producers that raised oil output to compensate for the shutdown of Libyan oilfields will certainly reduce production as Libya's output recovers, OPEC Secretary General Abdullah al-Badri said on Monday.
Saudi Arabia and its Gulf OPEC allies raised their oil production in June after failing to convince other members to agree an increase in production to make up for the shutdown of Libyan oil fields since February.
But Badri, who was Libyan energy minister 1990-2000, said those Organization of the Petroleum Exporting Countries members who raised output to make up for the Libyan loss will doubtless cut output again.
No comments:
Post a Comment