Saudi Arabia should reduce its oil-production levels to allow room for Libya's oil output to return to normal pre-war levels, Venezuelan oil minister Rafael Ramirez said Wednesday, following a meeting of the Organization of Petroleum Exporting Countries.
Saudi Arabia
should reduce its oil-production levels to allow room for
Libya
's oil
output to return to normal pre-war levels, Venezuelan oil minister Rafael
Ramirez said Wednesday, following a meeting of the Organization of Petroleum
Exporting Countries.
Asked if he was satisfied with [Saudi Arabian] production levels of around 10
million barrels a day in November, Ramirez said, "Their overproduction has
to reduce in order to open the space for
Libya
."
Describing the OPEC meeting Wednesday, Ramirez said, "It was a very good
meeting."
The oil exporters' group agreed on an OPEC production ceiling of 30 million
barrels a day, Ramirez said.
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