OSAKA — A number of ministers gathering for an OPEC meeting here indicated Wednesday they oppose an oil production increase being sought by oil consuming nations in the West.
However, Saudi Arabia, the oil cartel’s largest and most influential member, has yet to publicly comment. The Saudi vote on whether to increase production is expected to influence other OPEC nations as well.
Saudi Oil Minister Ali Naimi told reporters in Osaka he would outline the kingdom’s stance on crude output Thursday, when the OPEC ministers’ meeting was to formally open.
The representatives already in Osaka spent Wednesday in a series of informal meetings. Abdullah bin Hamad al-Attiyah of Qatar emerged from a session with counterparts from Nigeria and Venezuela, as well as the OPEC secretary general, and said all opposed putting more oil on the market.
“We are agreed that OPEC has no reason to increase production,” al-Attiyah said.
Kuwait, Indonesia and the United Arab Emirates have also indicated their opposition to a production increase.
However, other countries, such as Kuwait, have shown an interest in at least hearing the argument for an increase.
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