ROME, Nov 13: US Energy Secretary Samuel Bodman on Tuesday upped the pressure on Opec to help cool record oil prices as leaders from member countries of the exporters’ cartel prepare to meet at a rare summit.
Asked on the sidelines of an energy conference here if he wanted the 12-member Organisation of Petroleum Exporting Countries to increase output, he replied: “Yes, sure.”
“I do believe there is a lack of willingness to supply the market ... It is contributing to the price environment,” he told reporters.
Oil prices had looked likely to break through $100 per barrel last week but have since fallen after leading Opec member Saudi Arabia, a close US ally, signalled its willingness to discuss a possible output hike.
The International Energy Agency, the rich world’s energy watchdog, said earlier Tuesday that pressure on prices was easing but that additional supplies would be needed in the northern hemisphere winter.—AFP
