Identifier
Created
Classification
Origin
03ABUDHABI3506
2003-07-28 13:40:00
UNCLASSIFIED//FOR OFFICIAL USE ONLY
Embassy Abu Dhabi
Cable title:
UAE OIL MINISTER SAYS OPEC QUOTAS WILL REMAIN
how-tonull Diana T Fritz 03/21/2007 12:11:45 PM From DB/Inbox: Search Results Cable Text: UNCLASSIFIED SIPDIS TELEGRAM July 28, 2003 To: No Action Addressee Action: Unknown From: AMEMBASSY ABU DHABI (ABU DHABI 3506 - UNKNOWN) TAGS: PREL, ECON, EINV, EPET Captions: None Subject: UAE OIL MINISTER SAYS OPEC QUOTAS WILL REMAIN UNCHANGED Ref: None _________________________________________________________________ UNCLAS ABU DHABI 03506 SIPDIS CXABU: ACTION: ECON INFO: AMB DCM POL P/M Laser1: INFO: FCS DISSEMINATION: ECON CHARGE: PROG APPROVED: A/DCM: KVANDEVATE DRAFTED: ECON: CCRUMPLER CLEARED: C/ECON: OJOHN VZCZCADI658 OO RUEHC RUEHHH RUEHDI RUCPDOC RHEBAAA DE RUEHAD #3506 2091340 ZNR UUUUU ZZH O 281340Z JUL 03 FM AMEMBASSY ABU DHABI TO RUEHC/SECSTATE WASHDC IMMEDIATE 1052 INFO RUEHHH/OPEC COLLECTIVE IMMEDIATE RUEHDI/AMCONSUL DUBAI IMMEDIATE 3303 RUCPDOC/USDOC WASHDC IMMEDIATE RHEBAAA/DEPT OF ENERGY WASHDC IMMEDIATE
UNCLAS ABU DHABI 003506
SIPDIS
SENSITIVE
DEPT FOR NEA, NEA/ARP, INR/EC, EB/IEP, EB/CBA
USDOE FOR INT'L AFFAIRS - COBURN AND CALIENDO
USDOE FOR OFFICE OF THE SECRETARY - RHONDA HUDOME
USDOC FOR 1000/OC/
USDOC FOR 4520/ITA/IEP/ONE
USDOC FOR 4530/ITA/MAC/ONE/DGUGLIELMI
45000/ITA/MAC/DAS/WILLIAMSON
3131/CS/OIO/ANESA
E.O. 12958: N/A
TAGS: PREL ECON EINV EPET TC
SUBJECT: UAE OIL MINISTER SAYS OPEC QUOTAS WILL REMAIN
UNCHANGED
UNCLAS ABU DHABI 003506
SIPDIS
SENSITIVE
DEPT FOR NEA, NEA/ARP, INR/EC, EB/IEP, EB/CBA
USDOE FOR INT'L AFFAIRS - COBURN AND CALIENDO
USDOE FOR OFFICE OF THE SECRETARY - RHONDA HUDOME
USDOC FOR 1000/OC/
USDOC FOR 4520/ITA/IEP/ONE
USDOC FOR 4530/ITA/MAC/ONE/DGUGLIELMI
45000/ITA/MAC/DAS/WILLIAMSON
3131/CS/OIO/ANESA
E.O. 12958: N/A
TAGS: PREL ECON EINV EPET TC
SUBJECT: UAE OIL MINISTER SAYS OPEC QUOTAS WILL REMAIN
UNCHANGED
¶1. (U) UAE PETROLEUM MINISTER OBEID BIN SAIF AL-NASIRI TOLD
LOCAL REPORTERS ON JULY 27 THAT HE EXPECTS OPEC'S PRODUCTION
QUOTAS TO REMAIN UNCHANGED AT THE CARTEL'S JULY 31 MEETING
IN VIENNA. HE SAID THAT OPEC COULD NOT JUSTIFY A PRODUCTION
INCREASE AT THIS TIME BECAUSE OIL PRICES ARE WITHIN A RANGE
OF $22 TO $28 PER BARREL.
¶2. (U) AL-NASIRI CONFIRMED THAT THE UAE CONTINUES TO
PRODUCE AT ITS JUNE 1 QUOTA OF 2.2 MILLION BARRELS/DAY. HE
ALSO SAID THAT HE BELIEVES WORLD DEMAND FOR OIL WILL
INCREASE FROM ABOUT 1 MILLION TO 1.5 MILLION BARRELS PER DAY
DURING THE FOURTH QUARTER OF 2003. "OPEC WILL BE READY TO
MEET ANY INCREASE IN DEMAND," SAID AL-NASIRI, AND WILL
REVIEW PRODUCTION LEVELS AGAIN AT ITS REGULAR MEETING IN
SEPTEMBER.
¶3. (SBU) AL-NASIRI'S TECHNICAL CONSULTANT DR. IBRAHIM
ISMAEL PRIVATELY TOLD ECONOFF ON JULY 28 HE DID NOT EXPECT
MUCH DEBATE AT THE JULY 31 MEETING. THE CARTEL WAS SEEKING
TO MAINTAIN THE STATUS QUO -- LOWER OVERALL OPEC PRODUCTION
IN JUNE AND CONTINUED DELAYS IN THE RESUMPTION OF IRAQI OIL
EXPORTS HAD PUSHED OIL PRICES TO THE UPPER END OF THE OPEC
PRICE RANGE.
WAHBA