India dissatisfied with oil output boost

greenspun.com : LUSENET : Grassroots Information Coordination Center (GICC) : One Thread

Monday, 11 September, 2000, 13:51 GMT 14:51 UK India dissatisfied with oil output boost

India has said the increase in oil production of eight-hundred-thousand barrels-a-day announced by Opec may not be enough to bring prices down sufficiently.

The petroleum minister, Ram Naik, said that while the output increase was welcome, he would have preferred it to be more than one-million barrels-a-day.

Mr Naik said he had appealed to OPEC to agree a big enough increase to reduce prices to about twenty-six dollars-a-barrel.

Energy analysts say it's unlikely the three per-cent increase will bring prices below about thirty dollars a barrel.

http://news.bbc.co.uk/hi/english/world/south_asia/newsid_919000/919748.stm

-- Martin Thompson (mthom1927@aol.com), September 11, 2000


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