The Organization of Petroleum Exporting Countries (OPEC)'s 128th extraordinary ministerial conference wrapped up here tonight, leaving unchanged its member states' oil production ceiling of 24.5 million barrels per day until the convening of the coming 129th extraordinary ministerial conference scheduled for Algiers on the 10th of February 2004. Eng. Ali bin Ibrahim Al-Naimi, the Minister of Petroleum and Mineral resources, led the Saudi delegation to the conference.
A final communiqué said the decision was based on relative stability in the world markets due to the current balance between offer and demand and in oil prices which are still fluctuating within the OPEC-drawn range of $22 - 28 for a barrel.
The statement said the ministers assigned Indonesia's oil Minister Bornomo Yosjyantoro, in his capacity as Chairman of the cartel's next round, to hold the position of a temporary Secretary General as today's meeting failed to choose one among the Iranian and Kuwaiti candidates following the end of the tenure of OPEC's current Secretary General Alfaro Silvia Caldron, Venezuela's oil minister. The ministers also decided to hold the 130th ordinary ministerial meeting on the 31st of March 2004 in Vienna.
Another ministerial meeting will be held in Beirut on the 3rd of June 2004 upon invitation of Lebanon's Premier Rafiq Alhariri, the statement said.
Source: SPA
