Identifier
Created
Classification
Origin
06KUWAIT4639
2006-12-13 07:12:00
UNCLASSIFIED//FOR OFFICIAL USE ONLY
Embassy Kuwait
Cable title:
KUWAIT AGAIN THE VOICE OF MODERATION IN OPEC
how-toVZCZCXRO3586 PP RUEHDE RUEHDIR DE RUEHKU #4639 3470712 ZNR UUUUU ZZH P 130712Z DEC 06 FM AMEMBASSY KUWAIT TO RUEHC/SECSTATE WASHDC PRIORITY 7872 INFO RUEHZM/GULF COOPERATION COUNCIL COLLECTIVE PRIORITY RUEHHH/OPEC COLLECTIVE PRIORITY RUEHLO/AMEMBASSY LONDON PRIORITY 1338 RHEHNSC/NSC WASHDC PRIORITY RHEBAAA/DEPT OF ENERGY WASHDC PRIORITY
UNCLAS KUWAIT 004639
SIPDIS
SENSITIVE
SIPDIS
LONDON FOR TSOU
DEPARTMENT OF ENERGY FOR IE
EB/ESC/IEC FOR GRIFFIN
E.O. 12958: N/A
TAGS: ENRG EPET ECON BEXP KU
SUBJECT: KUWAIT AGAIN THE VOICE OF MODERATION IN OPEC
UNCLAS KUWAIT 004639
SIPDIS
SENSITIVE
SIPDIS
LONDON FOR TSOU
DEPARTMENT OF ENERGY FOR IE
EB/ESC/IEC FOR GRIFFIN
E.O. 12958: N/A
TAGS: ENRG EPET ECON BEXP KU
SUBJECT: KUWAIT AGAIN THE VOICE OF MODERATION IN OPEC
1. (U) For the third time in six weeks, Kuwait Energy
Minister Shaykh Ali al-Jarrah has publicly called for
restraint in OPEC pricing. His most recent remarks came on
December 12, a day before his departure to the OPEC ministers
meeting in Abuja. Al-Jarrah commented that OPEC countries
were "satisfied" with the current price of oil but concerned
about stocks. In contrast to comments from the Iranian Oil
Minister and others, Al-Jarrah is quoted as saying he thought
it was "early to decide about a cut. We must meet and
exchange views with other members. We, as Kuwait, are more
concerned to have a stable market where there are no price
fluctuations."
2. (U) Al-Jarrah's latest comments are consistent with other
statements he has made in the last six weeks. On November
28, Al-Jarrah said if oil prices hold near USD 61 per barrel,
OPEC should not cut production again in December. "If prices
maintain these levels, I don't imagine that there is a need
for a reduction," Al-Jarrah reportedly told Reuters. He
downplayed any suggestion that there was already a consensus
within OPEC on the need for cuts at the December meeting.
Similarly, on November 3, Al-Jarrah called current cuts
"reasonable" and urged OPEC to give the market time to adjust
to the cuts made at the OPEC meeting in Doha in October. He
said the size of any additional cut depends on price levels
and crude oil stockpiles.
********************************************* *
For more reporting from Embassy Kuwait, visit:
http://www.state.sgov.gov/p/nea/kuwait/?cable s
Visit Kuwait's Classified Website:
http://www.state.sgov.gov/p/nea/kuwait/
********************************************* *
LEBARON
SIPDIS
SENSITIVE
SIPDIS
LONDON FOR TSOU
DEPARTMENT OF ENERGY FOR IE
EB/ESC/IEC FOR GRIFFIN
E.O. 12958: N/A
TAGS: ENRG EPET ECON BEXP KU
SUBJECT: KUWAIT AGAIN THE VOICE OF MODERATION IN OPEC
1. (U) For the third time in six weeks, Kuwait Energy
Minister Shaykh Ali al-Jarrah has publicly called for
restraint in OPEC pricing. His most recent remarks came on
December 12, a day before his departure to the OPEC ministers
meeting in Abuja. Al-Jarrah commented that OPEC countries
were "satisfied" with the current price of oil but concerned
about stocks. In contrast to comments from the Iranian Oil
Minister and others, Al-Jarrah is quoted as saying he thought
it was "early to decide about a cut. We must meet and
exchange views with other members. We, as Kuwait, are more
concerned to have a stable market where there are no price
fluctuations."
2. (U) Al-Jarrah's latest comments are consistent with other
statements he has made in the last six weeks. On November
28, Al-Jarrah said if oil prices hold near USD 61 per barrel,
OPEC should not cut production again in December. "If prices
maintain these levels, I don't imagine that there is a need
for a reduction," Al-Jarrah reportedly told Reuters. He
downplayed any suggestion that there was already a consensus
within OPEC on the need for cuts at the December meeting.
Similarly, on November 3, Al-Jarrah called current cuts
"reasonable" and urged OPEC to give the market time to adjust
to the cuts made at the OPEC meeting in Doha in October. He
said the size of any additional cut depends on price levels
and crude oil stockpiles.
********************************************* *
For more reporting from Embassy Kuwait, visit:
http://www.state.sgov.gov/p/nea/kuwait/?cable s
Visit Kuwait's Classified Website:
http://www.state.sgov.gov/p/nea/kuwait/
********************************************* *
LEBARON