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Commodities Briefing - Categorized | Market Moves, Oil more

OPEC may maintain quota after Saudi says market ‘well-balanced’

Posted on 12 October 2010

From Bloomberg: OPEC may leave oil production quotas unchanged when it meets Oct. 14 in Vienna after Saudi Arabian Oil Minister Ali al-Naimi described the market as “very well- balanced” between the interests of consumers and producers.
“Everyone is happy with the market,” al-Naimi said late yesterday when asked, as he arrived at his hotel, whether the Organization of Petroleum Exporting Countries should boost supplies this year. “Consumer, producer, everyone is happy.”………………………………………Full Article: Source

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