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U.S. urges OPEC to maintain stable oil prices
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SPECIAL TO WORLD TRIBUNE.COM
Tuesday, September 25, 2001
WASHINGTON Ñ The United States has lobbied OPEC to ensure that the
oil cartel maintains price stability.
U.S. officials said Washington has set oil price stability as a priority
even as President George Bush is wooing Arab and Islamic states in a
coalition against terrorism. Bush has sent several messages to OPEC giants
such as Kuwait and Saudi Arabia to ensure that OPEC maintains supplies ahead
of winter.
OPEC oil ministers meet in Vienna on Wednesday to set oil production
quotas. The cartel had been prepared to decide to implement a cut of 1
million barrels a day in output.
Last week, U.S. Energy Secretary Spencer Abraham met OPEC
secretary-general Ali Rodriguez in Vienna. Officials said Abraham appealed
to the OPEC chief to suspend plans to cut production.
The cartel has set a quota of 23.2 million barrels a day. Oil prices
have shot past $31 in wake of the Sept. 11 Islamic suicide attacks on New
York and Washington. But they dropped to less than $23 a barrel in London on
Monday.
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