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Opec monitoring high oil price levels
- Saudi Arabia: Sunday, December 22 - 2002 at 09:07
Saudi Arabian oil minister Ali Al Naimi said that Opec was monitoring oil prices and would release more supplies on to the world market if prices stayed above USD28 for more than 20 days, reported agencies. He said this action was consistent with the price band mechanism currently in place. Oil futures moved above USD30 late last week.
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Peter J. CooperSunday, December 22 - 2002 at 09:07 UAE local time (GMT+4)
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This article was updated on Sat Jan 11 2003.
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