OPEC switches operational target from inventories to investment: Kemp:
"OPEC appears to be reformulating its target in terms of upstream investment rather than oil inventories, according to an analysis of recent statements made by ministers from member countries.
“There is no such thing as a target price by Saudi Arabia,” the kingdom’s energy minister, Khalid al-Falih, told reporters on Wednesday (“Saudi Arabia happy with oil market, won’t let another glut form”, Reuters, April 11).
“We’re seeing (production in) many regions declining. The only way to offset this is for the financial markets to start financing and funding upstream projects,” Falih observed.
"
'via Blog this'
No comments:
Post a Comment