OPEC TO CONFIRM DECISION OF ITS RECENT CONFERENCE?

VIENNA, JULY 9 (RIA Novosti) - At its 132nd conference, due in Vienna on July 21, the oil and energy ministers of the member countries of the Organisation of Petroleum Exporting Countries, are expected to approve the decision, adopted at the June 3 OPEC forum in Beirut, to increase production quotas and export supplies of crude oil by half a million barrels starting in August 1. Thus, the total output of the cartel's oil export will be 26 million barrels daily.

This statement, published by the Vienna OPEC headquarters on Friday, was made by Qatar Vice-Premier and Energy and Industry Minister Abdallah bin Hamad al-Attyia, who was OPEC president for a long time.

He said that, on eve of the Vienna conference, some OPEC members say that, minding the preserving high prices of oil, the quotas should not be changed. Meanwhile, some OPEC ministers say that, if OPEC is not going to lose the trust of the world energy community, the decisions of the top forum must be fulfilled.

Prices of crudes from the OPEC and Mexico basket higher than 30 dollars/barrel are wholly fair because they take into consideration the low exchange rate of the American currency and the tribulations happening in the Middle East - the main producer of oil - as well as in Nigeria and Venezuela.

Al-Attyia believes that the question of the price limits, approved in 2000 and now standing at 22-28 dollars/barrel, may be raised and discussed at the extraordinary conference in Vienna in July 21.