OPEC says oil prices stable
Vienna, 13th September 2001— The oil cartel OPEC
said Thursday that its oil prices had dug in at $26 per barrel, while the
European Union Commission expressed its thanks to the group for its
“responsible” acts in the wake of the terrorist attacks in the U.S.
The Secretariat of the Organization of
Petroleum Exporting Countries said the $26 rate on Wednesday was 43 cents lower
than the prices which OPEC oil had shot up to after the horrific
airplane-crash attacks on the World Trade Centre in New York and Pentagon in
But the latest price levels are still firmly
higher than the $24.72 average for its oil last week, OPEC said in Vienna.
The cartel had moved quickly to assure
stability on oil markets in the wake of the terrorist attacks, pledging to
keep markets adequately supplied with oil , actions which the EU Commission
“I would like to thank OPEC,” Energy
Commissioner Loyola de Palacio said in Brussels. The boost in production by the
cartel had assured that there were no speculation-driven price increases.
“OPEC slowed down the price rise. This is a
clear and responsible position,” she said, adding that Europe would not see a
shortage of crude oil .
The cartel's ministers next meet in Vienna on
September 26 to review price and production issues.