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Libya: OPEC says no to NATO bombing

Wednesday, July 27, 2011

Laaska News  July 27,2011

Minister of Energy and Petroleum of Venezuela Rafael Ramirez. Photo: AFP

 OPEC will not increase oil production as long as NATO continues to bomb Libya reported the Minister of Energy and Petroleum of Venezuela Rafael Ramirez, who is a member of OPEC.

“We can not give NATO carte blanche to bomb oil-producing countries,” he said.

Ramirez warned oil producers of the possibility of the repetition of the events of 1998, when in the wake of the economic crisis, the Asian oil market was so saturated that the price fell below the level of 10 dollars per barrel.

The Venezuelan minister believes that the economically developed countries deliberately try to destabilize the countries in OPEC because of those advocating a fair price for oil.

 VOR.

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