This website uses cookies primarily for visitor analytics. Certain pages will ask you to fill in contact details to receive additional information. On these pages you have the option of having the site log your details for future visits. Indicating you want the site to remember your details will place a cookie on your device. To view our full cookie policy, please click here. You can also view it at any time by going to our Contact Us page.

No dramatic OPEC decisions says Qatar

09 May 2011

Qatar's Energy Minister Mohammed Saleh al-Sada has ruled out any "dramatic" action to control prices by OPEC, insisting production and supplies were at healthy levels. Speaking to media on the sideline of an industry meeting in Doha, he said he didn't expect major production changes at the next OPEC meeting.

"We think the fundamentals are fine and can't see shortage of supply. OPEC countries and non-OPEC countries are producing and supplying, and satisfying world demands," he said. "Clearly the supply level and the stocks level is healthy, and we are after the stability of oil prices." Nor does he foresee a free fall in oil prices, despite a recent fall. The tiny energy emirate has received requests for additional supplies of gas to Japan, the minister also revealed. And he added that unrest in Libya would not affect oil supplies. "Many countries, especially from OPEC, have offset the shortfall and it is clear that there is no shortage in production and supply in the world,"  concluded the new minister, who was appointed in January 2011.


Print this page | E-mail this page