Opec President and Venezuela Oil Minister Ali Rodriguez, said in an interview that Opec will meet in an extraordinary meeting on November 12th, to revise oil production.
In a interview with the local Venezuelan daily El Universal, Rodriguez Araque stated that an extraordinary meeting of Opec members will take place in Vienna on November 12th, in order to revise oil quotas, with the possibility of increasing production by 500 thousands Bpd if the price stays above $ 28 during 20 consecutive days .
During the interview, Rodriguez reminded that "Opec output reduction made between March 98 and Dec 99 was in the order of 4.011 million barrels per day; up to date, 3.224 million have been put back in the market, there is still 780 thousand barrels per day, that would come back to the market depending on demand"
( petroleumworld )
