Oct 12, 2001, 12:01 AM
News Code: 9031745
0 Persons
market the in oversupply to due week last weakened prices Crude to due week last weakened prices crude Cash -- IRNA 12, .Oct Vienna, production especially market, the in imbalance of continuation the .producers oil OPEC non by increase at was price Dubai cash average Thursday, ending week last the In average The .before week the than less cents 32 barrel, a 40.20 Dlrs and cents 10 by lower barrel, a 01.21 Dlrs was crude Brent for price 31 by down barrel, 95per.19 Dlrs at was Basket OPEC average the level lowest its 65,.19 Dlrs was price basket the Tuesday, On .cents .1999 August 16 since OPEC sources, secondary from data latest the to According barrels million 3.1 been has (Iraq excluding) September in production .day per barrels million 2.23 of quota official the than more day per increased also have countries producing oil non-OPEC the addition, In to compared September, in day per barrels thousand 300 for production .August (IEA) Agency Energy International based Paris the Meanwhile, by months 6 next the in demand crude of estimates former its reduced will oil OPEC for demand that said Agency The .barrels million 2.1 .barrels million 80.25 be million 5.3 for output its reduced already has OPEC Although crude OPEC of cut additional expect analysts February, since barrels OPEC .day per barrels million 1 to thousand 700 between production, to countries non-OPEC the convince to trying unsuccessfully been has compensated have countries Those .market the stabilizing by co-operate stability market of burden the putting cuts, OPEC's of half the almost a join to ready not was example, for Mexico, .shoulder OPEC's on to Iran, and Arabia Saudi by proposed Madrid, in Sunday last meeting .stability price maintaining about talk was Organization the said Rodriguez Ali General Secretary OPEC .barrel per 22 Dlrs above prices bring to decisions new considering .Thursday on prices crude of increase an in resulted announcement The KZ/MHJ/KS End