OPEC chief: 75-80 dollars a barrel a 'good price'16 November 2009
AFP - Seventy-five to 80 dollars a barrel is a satisfactory price for oil, the president of OPEC told reporters in Abu Dhabi on Monday.
"Seventy-five to 80 dollars a barrel is a good price... for the recovery of the world economy," Jose Maria Botelho de Vasconcelos, who is also Angola's oil minister, told reporters on the sidelines of a conference on Gulf energy security in Abu Dhabi.
The rate of compliance by OPEC members with their production quotas "is around 65 percent," De Vasconcelos said, adding that this rate is satisfactory.
OPEC members will review production quotas during a meeting in Luanda on December 22.
