ABU DHABI (Zawya Dow Jones)--Qatar's oil minister Monday said he doesn't think the Organization of Petroleum Exporting Countries will need to increase output this year.
"The oil market is very well supplied," Abdullah bin Hamad Al Attiyah told reporters on the sidelines of the World Future Energy Summit in Abu Dhabi.
In terms of the lack of quota compliance by some OPEC members, Al Attiyah said:
"I'm not that worried about it. This is part of the change of the market. I'm not worried about a few barrels here and there. This is normal. At the end of the day we're balancing the market, we're seeing that the market is efficiently supplied."
-By Oliver Klaus and Tahani Karrar-Lewsley, Dow Jones Newswires; +9714 446-1693; Oliver.Klaus@dowjones.com
Copyright (c) 2010 Dow Jones & Co.
"The oil market is very well supplied," Abdullah bin Hamad Al Attiyah told reporters on the sidelines of the World Future Energy Summit in Abu Dhabi.
In terms of the lack of quota compliance by some OPEC members, Al Attiyah said:
"I'm not that worried about it. This is part of the change of the market. I'm not worried about a few barrels here and there. This is normal. At the end of the day we're balancing the market, we're seeing that the market is efficiently supplied."
-By Oliver Klaus and Tahani Karrar-Lewsley, Dow Jones Newswires; +9714 446-1693; Oliver.Klaus@dowjones.com
Copyright (c) 2010 Dow Jones & Co.
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Source: http://www.easybourse.com/bourse/actualite/qatar-oil-min-don-t-think-opec-will-need-to-up-output-785280
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