VIENNA--Angola's oil minister Jose Maria Botelho de Vasconcelos
said Wednesday he expects OPEC to reach a decision to help
stabilize the market when it meets in Vienna later this week,
hinting that he might back a move to rein in the producer group's
oil output.
"We will analyze the situation and I think we will achieve
consensus," Mr. Vasconcelos said, adding that the group could
decide to slightly change the current arrangement. Although the
minister stopped short of directly calling for the group to cut its
production, he compared the current situation with 2008, when OPEC
members drastically slashed output to halt a steep slide in
prices.
Speaking as he arrived in Vienna, 24 hours before the start of
the closely-watched gathering of oil ministers, Mr. Vasconcelos
said he would like to see prices return to $100 a barrel.
"It's good for all of us: for markets, for states, for
investors, for consumers," he said.
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