OPEC happy with $60-$65 crude: Sec-Gen - Reuters

[Eugene]

Source: Reuters

OPEC happy with $60-$65 crude: Sec-Gen
Thu May 17, 2007 8:55AM EDT

By Maryelle Demongeot

DENPASAR, Indonesia (Reuters) - OPEC would be pleased to
see oil prices remain at around $60 to $65 a barrel, the group's
secretary general said on Thursday, as he rebuffed consumer
nation concerns about summer crude supplies.

Abdullah al-Badri, in Bali for a meeting with top officials from
the International Energy Agency (IEA), also told Reuters that
OPEC would be unlikely to consider further output cuts unless
prices fell below $50 a barrel for over a month.

The comments may disappoint consumer nations who would like
the cartel to pump more crude ahead of the summer, but will
also provide some hope that the group might not rush to make
a third production cut should prices fall back sharply.

Asked if an oil price of $60-65 was fine, Badri said: "I think
I would agree with that. I don't want to see a low price and
I don't want to see a high price."

-snip-

Read more: http://www.reuters.com/article/reutersEdge/idUSSP10640820070517

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Meanwhile: Oil surges to $70 on U.S. gasoline concerns - Reuters

[Javaman]

1. Abdullah al-Badri can now get that gold plated home..

the poor guy, he had to do without for all these years. my heart breaks for the mother fucker.