After Thursday's meeting, OPEC ministers unanimously decided to maintain OPEC crude oil production quotas unchanged. In 2009, the year and March this year, the first meeting, OPEC's official output were announced in 2484 barrels of maintaining the organization's current market share of global crude oil accounted for 40%.
Vic at a news conference after the meeting, said OPEC made the decision because of the international oil market well supplied, but the world economic recovery, but there is a clear process of risk mitigation.Vic said, OPEC reiterated that the market will work to ensure reliability of supply of crude oil, while committed to the maintenance of international oil prices reasonable and fair. To this end, OPEC will be based on world economic development, the production at an appropriate level.
Analysts believe that OPEC countries do anything that the current oil price level of satisfaction. Before the meeting this week, several OPEC officials have expressed this information, the most influential OPEC reiterated that Saudi Arabia, 70 to 80 U.S. dollars oil prices are "ideal."
For OPEC's decision as expected, the international crude oil market is not much response. 14 On the New York benchmark crude oil futures edged down 32 cents to $ 82.69.
Compared to the mere formality of the meeting, some OPEC members for the "oil Pobai" appeal attracted more attention. Ghanem, chairman of Libya's national oil company, said in Vienna on 14, like to see 100 U.S. dollars a barrel oil prices, he thinks the ideal price of oil next year, 100 dollars a barrel; and Algerian Oil Minister said that 90 to 100 U.S. dollars The oil price was reasonable.
Analysts pointed out that so far, public recognition of the ideal range of oil prices seems to be 60-80 U.S. dollars, but now some of the OPEC countries were talking about 80-100 U.S. dollars, indicating that the organization is satisfied with oil prices, but fell against the dollar very upset.
Venezuelan Oil Minister Rafael Ramirez said after the 14th, the weak dollar means that crude oil's "true price" lower than the current level of about 20 U.S. dollars. And Ghanem claimed, OPEC crude oil prices helped offset the weaker dollar revenue loss. "We are losing real income, Libya especially hope that rising oil prices." He said.
In fact, as the dollar remained weak because of structural problems, OPEC has long been to investigate the "abandoned the dollar," the possibility that the settlement in the crude oil to replace the dollar in other currencies. Currently, crude oil and other commodities are denominated and settled in U.S. dollars. Depreciation of the dollar is the purchasing power of many OPEC members, cause damage to most of the income of these countries are "petrodollars."
However, the United States, Saudi Arabia, a close ally still seems to rely on. Some OPEC countries for oil Pobai voice calls, Saudi Oil Minister Ali al-Naimi said the 14 firm, the Saudi market are comfortable, do not support some hardline oil minister called for increased oil prices to offset the depreciation of the dollar impact of the proposal . Although Naimi main problem for not raising their prices up, but also indirectly, "support" the dollar.