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Too early to think of OPEC increase this year: Libya

VIENNA
Sun Sep 9, 2007 1:23pm EDT
Libya's top oil official Shokri Ghanem walks through the lobby of a hotel in Caracas during a meeting of OPEC (Organization of Petroleum Exporting Countries) ministers May 31, 2006. Ghanem said on Sunday he thought it was too early to say if OPEC needed to increase output this year. REUTERS/Christian Veron

VIENNA (Reuters) - The head of Libya's OPEC delegation Shokri Ghanem said on Sunday he thought it was too early to say if OPEC needed to increase output this year.

"This year, we cannot decide yet, we are following the market and watching it," Ghanem said. "If we see that there is a need, we will."

He said he did not think OPEC needed to raise output at its Tuesday meeting.

"No, I don't think there should be an output increase," he told reporters on his arrival in Vienna.


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