The Hindu Business Line : Deora writes to OPEC, seeks step-up in production

New Delhi, June 18 The Petroleum Minister, Mr Murli Deora, has written to Organisation of Petroleum Exporting Countries requesting for an increase in crude oil production to check the rising international oil prices.

Ahead of the June 22 meeting of major consumers and producers, the minister wrote to the Saudi Oil Minister, Mr Ali al-Naimi, saying “(I) request you to advice major oil producing countries to raise their output to calm the market further and revitalise the global economic growth.”

“The world is in the midst of an unprecedented rise in oil prices, from about $29 per barrel in 2000 to touch $139 a barrel in June 2008,” Mr Deora said. Mr Deora did not confirm if he would be attending the meeting.

He complimented Saudi Arabia, the world’s largest oil exporter, for unilaterally deciding to raise production by 3-lakh barrels per day and exporting it mainly to the Asian market where demand growth is currently the highest.

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