Purnomo Yusgiantoro
Purnomo Yusgiantoro
Purnomo Yusgiantorois an Indonesian politician who is the former president-secretary general of OPEC, former Indonesian Minister of Energy for three presidents, and former Minister of Defense in the Second United Indonesia Cabinet...
among analyzed current factors finding gasoline global high increased market ministers noted oil prices principal recent regions result solution toward view
The ministers noted that current high oil prices are the result of a combination of many factors, ... Principal among them are gasoline bottlenecks in some regions of the world, increased geopolitical tensions in some regions, speculation in the futures market and recent upward revisions in global demand. These factors were analyzed with a view toward finding a solution to the problem.
barrels decision increase until
Our decision is in place, up until now we will still increase by 500,000 barrels a day from August. This decision is still valid.
barrels million producing responds talking
Cosmetic? You are talking about quotas. But when it comes to production, OPEC responds to the market. We are producing 2 million barrels a day more.
cause happy high oil prices
High oil prices can cause recession. We are not happy with high oil prices,
assure market
do what we can do to assure market stability.
spare whatever
At the moment, there's nothing we can do. OPEC has spare capacity. However, whatever we do, there is no sensitivity in the market,
economical exports fuel lower oil production reduce
With the instruction, we have to reduce oil exports on consideration that it will be more economical and can lower our fuel oil production costs,