The media in Vienna July 8 reported that the Organization of Petroleum Exporting Countries (OPEC) Secretary-General Abdallah July 8 Badri said here today that the OPEC oil prices on the current comfort, but the current oil prices do not encourage further investment.
OPEC is in the annual report of the organization said. OPEC also in the report of its 5-year forecast to cut investment in oil field about 50 billion U.S. dollars.
Badri in the report to the media, said that the current oil prices are another comfort people, but the price does not encourage the oil to new oil production capacity for further investment.
Oil prices from the most recent in December last year, when 32 U.S. dollars per barrel rose to around 70 U.S. dollars a barrel, but oil prices a year ago is still far below the 147 U.S. dollars per barrel hit a record high.
Badri in response to a reporter's question on whether OPEC would like to cut production of this issue, said: "We would like to see oil prices can no longer meet our investment level, but the reduction or increase in oil production by OPEC members is the decision of the Council of Ministers a decision. "
Jul. 9, 2009
