(Bloomberg) -- OPEC, which supplies more than 40
percent of the world's crude oil, sees no need to increase
production at present because the market is well-supplied.
``We're monitoring the market to see if there is a need for
more oil, we're ready to increase production if there is a need,
but right now there is no need,'' Secretary General Abdalla el-
Badri said in a telephone interview from OPEC's headquarters in
Vienna. ``The market is well-supplied, inventories stand above a
five-year average.''
Read more at Bloomberg Energy News
percent of the world's crude oil, sees no need to increase
production at present because the market is well-supplied.
``We're monitoring the market to see if there is a need for
more oil, we're ready to increase production if there is a need,
but right now there is no need,'' Secretary General Abdalla el-
Badri said in a telephone interview from OPEC's headquarters in
Vienna. ``The market is well-supplied, inventories stand above a
five-year average.''
Read more at Bloomberg Energy News
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