Source Pravda.Ru

Intact Oil Quotas - 20 September, 2002

The OPEC left its current production quotas intact at a meeting in Japan. But until the war question is solved OPEC is to pump extra oil on short notice.

By deciding not to authorize any additional pumping of crude, OPEC makes it somewhat more likely that inventories will continue to fall in oil-importing countries, which in turn could lead to higher prices that would damage an already fragile global economy.

As oil traders had been expecting OPEC to leave quotas unchanged prices for October delivery fell 8 cents per barrel to $29.40 in New York trading yesterday.

OPEC members don’t believe recent warnings from oil-consuming nations that oil supplies are too low and pushing oil prices higher as a result. The reason as OPEC thinks is in fears about a possible war that had pushed up prices by $3 or $4 a barrel. ©

&to=http://www.opec.org' target=_blank>OPEC

Representatives of the North Korean administration issued a statement saying that the United States and its allies have lost the "political and military confrontation" to the DPRK

North Korea declares victory over USA
Comments
USA to ruin Russian-Japanese relationship with the help of Aegis Ashore system
Putin to Sobchak: We will never let them turn Russia into another Ukraine
North Korea is not a threat to the US
Should Russian athletes go to non-Olympic Games in South Korea?
Russia on the eve of another Crimea referendum
Russia to install laser navigation system on the Moon
Russia to install laser navigation system on the Moon
Putin to Sobchak: We will never let them turn Russia into another Ukraine
USA to ruin Russian-Japanese relationship with the help of Aegis Ashore system
Putin to Sobchak: We will never let them turn Russia into another Ukraine
Russia not pulling out from any international agreements, Putin says
Donbass without militia will be worse than Srebrenica - Putin
Donbass without militia will be worse than Srebrenica - Putin
Putin: Russia will continue spending enough on defence not to be killed
Putin: Russia will continue spending enough on defence not to be killed
Putin to Sobchak: We will never let them turn Russia into another Ukraine
Putin to Sobchak: We will never let them turn Russia into another Ukraine
Putin to Sobchak: We will never let them turn Russia into another Ukraine
Putin to Sobchak: We will never let them turn Russia into another Ukraine
Putin: Russia will continue spending enough on defence not to be killed
Putin: Russia will continue spending enough on defence not to be killed