23/12/2010Arabs and OPEC ministers were holding a meeting in Cairo
Arbil, The Minister of State in the President of the OPEC arriving in Cairo on Thursday ahead of talks expected to discuss how high the price of oil which could withstand the global economy.
It was agreed that a conference convened by the Organization of Petroleum Exporting Countries (OPEC) in its entirety, earlier this month to keep the policy applied by the production since December 2008 without change.
Since that meeting, oil prices move higher than 30% of the lowest level during the year noted in May.
And record oil this week, the highest level in two years at 90.80 dollars.
And of the Organization of Arab Petroleum Exporting Countries (OAPEC), Arab countries are members of the OPEC, which is Iraq, Kuwait, Saudi Arabia, Libya, Algeria, Bahrain, Qatar, United Arab Emirates, Syria, and Egypt.
The ministers started arriving on Thursday to participate in the meeting to be held on Saturday, which will not be issued for any formal decision on the supply, but may consider production and prices.
The news agency "Reuters" analysts as saying that he would likely begin OPEC produce more oil, but said this would happen in the first place through the pump supplies more than agreed levels on an informal basis rather than a change of policy production.
Said Patrick Armstrong of Armstrong Mannigerz Investment in London: "I think we will see more production because the oil above 90 dollars."
The Secretary-General of the OPEC Abdalla El-Badri said in Quito earlier this month that OPEC will build any change in policy on the fundamental factors of supply and demand, not solely on price.
Badri said "If you reached 100 dollars as a result of speculation, OPEC will not move."
It was the new Iraqi oil minister has announced on Wednesday that his country's oil production reached 2.5 million barrels per day, up from about 2.4 million barrels a day.
Abdel Karim said Allaibi in a statement that production has increased thanks to the success of the Iraqi workers and international oil companies to reduce the time required for Increased production of Rumaila and Zubayr by 10% to less than a year.
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