Mexican Energy Minister Ernesto Martens said Wednesday that Mexico does not consider a cut in world crude oil output to be necessary at present. "We think that the market should be orderly, to start with.
We think that so far, from the signs we are seeing, there is adequate balance in the market between supply and demand. Consequently, we consider there is no need for an adjustment at present," Martens said to reporters, according to news agencies.
Martens also said he has no knowledge of any planned meeting with his counterparts from Venezuela and Saudi Arabia.
An Energy Ministry source said Wednesday that Martens will meet with his Norwegian counterpart Olav Akselsen, who is arriving in Mexico this week as part of a visiting Norwegian delegation.
which along with Mexico formed the so-called troika that in 1998 started output cooperation between members of the Organization of Petroleum Exporting Countries and non-OPEC producers.
Mexico a non-OPEC oil producer country is currently exporting 1.75 million barrels a day of crude oil, from production of 3.1 million b/d.
© 2001 Mena Report (www.menareport.com)
