One thing OPEC tries to do is preserve market stability. We have said we will continue to monitor closely, and depending on what we see we will do what is best for the market. ... We need to know more about demand.
If we only followed strictly market analysis we should be doing some trimming of volume.
Just rest assured, we are under obligation to the market to keep the market well supplied. We meet as often as it takes to micro-manage the short-term volatility.
OPEC is not going to be the decisive action but we want to reassure the market by saying we have this extra capacity,
OPEC is committed to supplying the market at a reasonable price. Of the two, we're more committed to supplying the market and keeping it stable. I can't fix the price.
There is nothing like an absolute price level. You cannot decree an absolute price; everything is subject to market forces, and market forces cut both ways.
I still do believe the market is well supplied, even getting soft.
A fair price is what the market can sustain.
The oil market has remained well-supplied with crude.
I don't see any compelling reason for a cut. The market hasn't changed; the price is still $67 a barrel.
The market should rest assured that whatever it needs is there. Before that there is no need to do anything.
The market is well supplied - actually it is in balance. After Katrina, everybody offered crude but the refining capacity was not there to cope with it.
The market has not been impressed by small increments, so for market psychology it would be better to increase by a million and see if we can meet it,