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OPEC chief pleased with current oil supply, demand levels.

| By Abdelwaheb El-Gueyed VIENNA, Nov 8 (KUNA) -- Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Abdallah Salem El-Badri said here Friday that he was very pleased with the current crude levels of supply and demand.

In an exclusive interview for Kuwait News Agency (KUNA) on the sidelines of the 2013 OPEC World Oil Outlook's (WOO) release, Badri said that the current price of the 'black gold' in recent weeks, averaging from USD 103 to 107 per barrel, was reasonable for both oil producers and consumers.

In regards to the WOO, the publication provides a glimpse of the future of global oil industry, he saisd, noting that it would provide statistics that reflect OPEC's views of the industry till 2030.

The publication also provided a clear and transparent statistics based on reliable sources and data from OPEC members, studies and research centers, as well as public and private companies, said Badri.

Badri touched on the upcoming meeting for OPEC ministers on December 4, explaining that it would discuss the organization's production within the first quarter of 2014.

Other issues such as choosing a new Secretary General and recent development in the oil market would also be discussed, he added.

He also noted that OPEC was willing to hold meetings and cooperate with other international groups and countries to find common ground regarding issues pertaining to the oil industry. (end) amg.gta KUNA 081047 Nov 13NNNN

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Publication:Kuwait News Agency (KUNA)
Date:Nov 8, 2013
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