Chakib Khelil Quotations

There is no need to really increase production now because the prices are stable at $25 and we are always here to meet the demand required in the market.

People are not really for an increase in June,

That's the signal we're going to give. This one has the merit of proposing something concrete, offering to put on the market quantities which will help stabilize (the price), which we need,

Most of our trading is done with Europe. We get revenues in dollars and spend in euros.

We expect a slightly bigger correction, though overall the market is still fueled by Nigeria's supply tension.

We'll have a cut of 2 million (barrels) on the 1st of January, I don't have any doubt.

There is a consensus with the member countries to maintain the current quota as there is enough oil in the market. I expect a barrel at US$50 at least for the second quarter of the year.

We think that we will keep production at the same level.

The total in production cuts announced so far by non-OPEC countries nears only 300,000 bpd and we are still awaiting more efforts (from them),

There will be no increase in production, definitely not. There is a consensus on that.