US embassy cable - 04ABUDHABI1465

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UAE OIL MINISTER calls for OPEC to take steps to bring down prices

Identifier: 04ABUDHABI1465
Wikileaks: View 04ABUDHABI1465 at Wikileaks.org
Origin: Embassy Abu Dhabi
Created: 2004-05-09 11:23:00
Classification: UNCLASSIFIED//FOR OFFICIAL USE ONLY
Tags: PREL ECON EINV EPET TC
Redacted: This cable was not redacted by Wikileaks.
null
Diana T Fritz  03/15/2007 02:23:19 PM  From  DB/Inbox:  Search Results

Cable 
Text:                                                                      
                                                                           
      
UNCLASSIFIED

SIPDIS
TELEGRAM                                             May 09, 2004


To:       No Action Addressee                                    

Action:   Unknown                                                

From:     AMEMBASSY ABU DHABI (ABU DHABI 1465 - UNKNOWN)         

TAGS:     PREL, ECON, EINV, EPET                                 

Captions: None                                                   

Subject:  UAE OIL MINISTER CALLS FOR OPEC TO TAKE STEPS TO BRING 
          DOWN PRICES                                            

Ref:      None                                                   
_________________________________________________________________
UNCLAS        ABU DHABI 01465

SIPDIS
CXABU:
    ACTION: ECON 
    INFO:   DCM POL P/M AMB 
Laser1:
    INFO:   FCS 

DISSEMINATION: ECON
CHARGE: PROG

APPROVED: CDA: RALBRIGHT
DRAFTED: ECON: CCRUMPLER
CLEARED: ECON: OJOHN

VZCZCADI787
OO RUEHC RUEHHH RUEHMS RUEHDI RUCPDOC RHEBAAA
DE RUEHAD #1465 1301123
ZNR UUUUU ZZH
O 091123Z MAY 04
FM AMEMBASSY ABU DHABI
TO RUEHC/SECSTATE WASHDC IMMEDIATE 4252
INFO RUEHHH/OPEC COLLECTIVE IMMEDIATE
RUEHMS/AMEMBASSY MUSCAT IMMEDIATE 0316
RUEHDI/AMCONSUL DUBAI IMMEDIATE 3991
RUCPDOC/USDOC WASHDC IMMEDIATE
RHEBAAA/DEPT OF ENERGY WASHDC IMMEDIATE
UNCLAS ABU DHABI 001465 
 
SIPDIS 
 
SENSITIVE 
 
DEPT FOR NEA, NEA/ARP, INR/EC, EB/IEP, EB/CBA 
USDOE FOR INT'L AFFAIRS - COBURN AND CALIENDO 
USDOE FOR OFFICE OF THE SECRETARY - RHONDA HUDOME 
USDOC FOR 1000/OC/ 
USDOC FOR 4520/ITA/IEP/ONE 
USDOC FOR 4530/ITA/MAC/ONE/DGUGLIELMI 
45000/ITA/MAC/DAS/WILLIAMSON 
3131/CS/OIO/ANESA 
 
E.O. 12958: N/A 
TAGS: PREL, ECON, EINV, EPET, TC 
SUBJECT: UAE OIL MINISTER calls for OPEC to take steps to 
bring down prices 
 
 
1.  (U) ON THE MARGINS OF AN ENVIRONMENT CONFERENCE IN ABU 
DHABI ON MAY 8, UAE PETROLEUM MINISTER OBEID BIN SAIF AL- 
NASIRI CALLED FOR OPEC TO "DO SOMETHING" ABOUT HIGH OIL 
PRICES AND RAISE THE CARTEL'S OFFICIAL PRODUCTION QUOTA.  HE 
NOTED THAT OPEC MEMBERS ALREADY ARE OVERPRODUCING THE 
CURRENT QUOTA BY 2 MILLION BARRELS PER DAY, BUT COULD DO 
MORE TO LOWER PRICES. 
 
2.  (SBU) AL-NASIRI'S TECHNICAL CONSULTANT DR. IBRAHIM 
ISMAEL PRIVATELY TOLD ECONOFF THAT THE UAE WOULD PUSH FOR 
INCREASED OPEC PRODUCTION DURING THE CARTEL'S NEXT MEETING 
ON JUNE 3 IN BEIRUT.  HE NOTED, HOWEVER, THAT OTHER OPEC 
MEMBER STATES (NFI) DESPERATELY NEED THE WINDFALL FROM 
HIGHER OIL REVENUES AND WOULD OPPOSE A PRODUCTION INCREASE. 
MOST OPEC MINISTERS SAY GROUP POLICY IS NOT TO BLAME FOR 
HIGH OIL PRICES, BUT DR. ISMAEL BELIEVES THAT AN OFFICIAL 
INCREASE IN THE PRODUCTION QUOTAS WOULD BE A SYMBOLIC MOVE 
TO HELP CALM THE MARKETS. 
 
ALBRIGHT 

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