Opec President Sheikh Ahmad al-Fahd al-Sabah said on Wednesday that he expected the oil producers' cartel to maintain output at current rates into the third quarter of 2005. "The situation will continue to be maintained with our production now," Sheikh Ahmad, who is also Kuwait's energy minister, told reporters at the country's parliament. "This is what will be ... unless there is something unexpected at our meeting in June."
The Organisation of Petroleum Exporting Countries meets in Vienna on June 15 to set out its policy for the second half of the year, and many member nations are already suggesting production should remain unchanged to boost stockpiles before the high-demand fourth quarter.
The Algerian Energy Minister Chakib Khelil said on Tuesday that Opec would "most probably" maintain output at current levels, echoing similar comments by Venezuela's energy minister the same day.
"We will keep the ceiling the same and even the over-production," Sheikh Ahmad said. "I already consulted some members and they have the same feeling."
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