Algeria's Khelil paves way for OPEC reliance debate

09/20/2004
At the World Energy Congress this month in Sydney, Algerian Energy Mining Resources Minister and Sonatrach Pres. Chakib Khelil paved the way for the reopening of an old debate when he questioned the fairness of the world's continuing reliance on the Organization of Petroleum Exporting Countries as a "crisis manager" during times of high oil demand. KhelilClick here to enlarge imageKhelil said that the world relies on OPEC's spare production capacity to fill the gap in oil supply when economic growth is strong or in times of trouble when oil supplies are short.During periods of low demand OPEC is expected to drop down to levels of production at or below its quota. In other words t...
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