Few days from now, on February 1 to be exact, OPEC countries will meet again to talk and settle problems on oil industry. One of the oil ministers expected already that the organization will discuss and further scrutinize all possible solutions to the present problem of oil industry.
But OPEC exporters, which have repeatedly said that the high oil prices were a result of speculation and geopolitics, appeared to dismiss his call.
But OPEC exporters, which have repeatedly said that the high oil prices were a result of speculation and geopolitics, appeared to dismiss his call.
OPEC is keeping a close eye on the market and stood ready to pump more when needed, OPEC Secretary-General Abdullah al-Badri said in remarks published on Saturday.
Qatar's Oil Minister Abdullah al-Attiyah said on Sunday that the oil market was well supplied and there was no need for the producer group to boost output at its Feb. 1 meeting.
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