OPEC resists calls for increased oil output

10/16/2000
Despite current high oil prices and concerns over oil supply levels this winter, some members of the Organization of Petroleum Exporting Countries are resisting calls for an increase in the group's output.Instead, some officials have issued warnings about the prospect of an oversupplied market next year.Iran's OPEC governor, Hossein Kazempour Ardebili, said last week that if the organization continues with its current level of oil production, the oil market would face an excess of oil supply in the second and third quarters of 2001.And Qatari Minister of Energy and Industry Abdullah Bin Hamad Al Attiyah dismissed suggestions that OPEC might consider raising output levels to offset...
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