AUSTRIA: ORGANISATION OF PETROLEUM EXPORTING COUNTRIES (OPEC) OIL MINISTERS BEGIN TO GATHER FOR TALKS
Record ID:
344636
AUSTRIA: ORGANISATION OF PETROLEUM EXPORTING COUNTRIES (OPEC) OIL MINISTERS BEGIN TO GATHER FOR TALKS
- Title: AUSTRIA: ORGANISATION OF PETROLEUM EXPORTING COUNTRIES (OPEC) OIL MINISTERS BEGIN TO GATHER FOR TALKS
- Date: 28th March 2000
- Summary: VIENNA, AUSTRIA (MARCH 25, 2000) (REUTERS) 1. SLV NIGHT EXTERIOR HOTEL INTERCONTINENTAL, IRAQI OIL MINISTER AMER MOHAMMED RASHEED GETTING OUT OF CAR 0.10 2. SOUNDBITE (English) IRAQI OIL MINISTER, AMER MOHAMMED RASHEED, WALKING IN CORRIDOR SURROUNDED BY JOURNALISTS, SAYING: "The price has been going down by a few dollars in the last few days, so there should be no problem." 0.22 VIENNA, AUSTRIA (MARCH 26, 2000) (REUTERS) 3. SCU POLICEMAN IN FRONT OF ENTRANCE TO VIENNA INTERCONTINENTAL HOTEL 0.26 4. SCU IRAQI OIL MINISTER, AMER MOHAMMED RASHEED, LEAVING HOTEL, GETTING INTO CAR 0.34 5. SOUNDBITE ( Arabic) IRAQI OIL MINISTER, AMER MOHAMMED RASHEED, SAYING: "There is no problem with the price." 0.54 6. MV SAUDI ARABIA OIL MINISTER, ALI NAIMI, LEAVING HOTEL SURROUNDED BY BODYGUARDS AND A CROWD OF JOURNALISTS 1.12 7. SLV JOURNALISTS WAITING IN FRONT OF HOTEL INTERCONTINENTAL 1.17 8. MV VENEZUELAN OIL MINISTER, ALI RODRIGUEZ-ARAQUE, WALKING INTO HOTEL 1.27 9. SLV JOURNALISTS WAITING 1.33 10. SCU IRANIAN OIL MINISTER, BIJAN NAMDAR ZANGENEH, WALKING DOWN HOTEL CORRIDOR SURROUNDED BY BODY GUARDS AND A CROWD OF JOURNALISTS 2.04 11. MV QATAR OIL MINISTER, ABDULLAH BIN HAMAD AL ATTIYAH, ARRIVING, GETTING OUT OF CAR 2.12 12. SOUNDBITE (English) QATAR OIL MINISTER, ABDULLAH BIN HAMAD AL ATTIYAH, WALKING ALONG HOTEL CORRIDOR, SAYING: "We will see, we have to discuss all this." 2.26 13. LAS /MV EXTERIORS OF OPEC HEADQUARTERS, POLICE GUARDING THE BUILDING/ EXTERIORS (4 SHOTS) 2.52 Initials Script is copyright Reuters Limited. All rights reserved
- Embargoed: 12th April 2000 13:00
- Keywords:
- Location: VIENNA, AUSTRIA
- Country: Austria
- Reuters ID: LVA83S1RP26HANP3OQWHMC3IFP9O
- Story Text: The Organisation of the Petroleum Exporting
Countries (OPEC) oil ministers have begun to gather in Vienna
in preparation for talks aimed to ease high oil prices and
prevent economic damage among major oil consuming nations.
The Organisation of the Petroleum Exporting
Countries (OPEC) is set to seal the agreement at the
conference starting in Vienna on Monday (March 27) in an
effort to lower high oil prices and avert an economic downturn
in the oil importing nations of Asia and the West.
Arriving for the OPEC talks, Iraqi oil minister Amer
Mohammed Rashid said: "The price has been going down by a few
dollars in the last few days, so there should be no problem."
The producers are expected to bridge differences in opinion
over how much extra they can afford to pump without sending
international markets for their oil into a tailspin.
A senior Gulf official said on Saturday (March 25) that
pre-conference negotiations were closing in on a deal to lift
crude output by between one to 1.5 million barrels daily.
Saudi Arabia is believed to favour the top end of that
scale, while Iran wants to limit the increase to one million
barrels per day.
Gulf Arab producers, including Saudi, will open
negotiations at 1.7 million barrels a day, Gulf Arab delegates
said on Sunday (March 26).They said their opening gambit was
designed to produce an eventual middle-ground consensus.
A Gulf official admitted that the recent reversal in oil
prices to $28 a barrel in the U.S., from a peak of $34 two
weeks ago, had strengthened the case for volumes nearer a
million lower than 1.5 million.
Algerian concerns that any extra oil might send prices
sliding appear to have been allayed
Saudi Oil Minister Ali al-Naimi, after holding a meeting
with his Algerian countepart, Chakib Khelil, said that Saudi
and Algeria were agreed on a position."
Sanctions-bound Iraq, not a party to OPEC oil cuts, says
it also is planning to raise oil sales in the next few weeks
under Baghdad's humanitarian exchange with the United Nations.
Iraqi Oil Minister Amir Rasheed said the U.N.'s release of
spare parts for Iraq's crumbling oil sector would allow
Baghdad quickly to restore failing production.
Venezuelan Oil Minister Ali Rodriguez told reporters in
Vienna that the extra Iraqi output would not have an impact on
OPEC's negotiations.
- Copyright Holder: REUTERS
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