US embassy cable - 03ABUDHABI3506

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UAE OIL MINISTER SAYS OPEC QUOTAS WILL REMAIN UNCHANGED

Identifier: 03ABUDHABI3506
Wikileaks: View 03ABUDHABI3506 at Wikileaks.org
Origin: Embassy Abu Dhabi
Created: 2003-07-28 13:40:00
Classification: UNCLASSIFIED//FOR OFFICIAL USE ONLY
Tags: PREL ECON EINV EPET TC
Redacted: This cable was not redacted by Wikileaks.
null
Diana T Fritz  03/21/2007 12:11:45 PM  From  DB/Inbox:  Search Results

Cable 
Text:                                                                      
                                                                           
      
UNCLASSIFIED

SIPDIS
TELEGRAM                                            July 28, 2003


To:       No Action Addressee                                    

Action:   Unknown                                                

From:     AMEMBASSY ABU DHABI (ABU DHABI 3506 - UNKNOWN)         

TAGS:     PREL, ECON, EINV, EPET                                 

Captions: None                                                   

Subject:  UAE OIL MINISTER SAYS OPEC QUOTAS WILL REMAIN UNCHANGED

Ref:      None                                                   
_________________________________________________________________
UNCLAS        ABU DHABI 03506

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

DISSEMINATION: ECON
CHARGE: PROG

APPROVED: A/DCM: KVANDEVATE
DRAFTED: ECON: CCRUMPLER
CLEARED: C/ECON: OJOHN

VZCZCADI658
OO RUEHC RUEHHH RUEHDI RUCPDOC RHEBAAA
DE RUEHAD #3506 2091340
ZNR UUUUU ZZH
O 281340Z JUL 03
FM AMEMBASSY ABU DHABI
TO RUEHC/SECSTATE WASHDC IMMEDIATE 1052
INFO RUEHHH/OPEC COLLECTIVE IMMEDIATE
RUEHDI/AMCONSUL DUBAI IMMEDIATE 3303
RUCPDOC/USDOC WASHDC IMMEDIATE
RHEBAAA/DEPT OF ENERGY WASHDC IMMEDIATE
UNCLAS ABU DHABI 003506 
 
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 SAYS OPEC QUOTAS WILL REMAIN 
UNCHANGED 
 
1.  (U) UAE PETROLEUM MINISTER OBEID BIN SAIF AL-NASIRI TOLD 
LOCAL REPORTERS ON JULY 27 THAT HE EXPECTS OPEC'S PRODUCTION 
QUOTAS TO REMAIN UNCHANGED AT THE CARTEL'S JULY 31 MEETING 
IN VIENNA.  HE SAID THAT OPEC COULD NOT JUSTIFY A PRODUCTION 
INCREASE AT THIS TIME BECAUSE OIL PRICES ARE WITHIN A RANGE 
OF $22 TO $28 PER BARREL. 
 
2.  (U) AL-NASIRI CONFIRMED THAT THE UAE CONTINUES TO 
PRODUCE AT ITS JUNE 1 QUOTA OF 2.2 MILLION BARRELS/DAY.  HE 
ALSO SAID THAT HE BELIEVES WORLD DEMAND FOR OIL WILL 
INCREASE FROM ABOUT 1 MILLION TO 1.5 MILLION BARRELS PER DAY 
DURING THE FOURTH QUARTER OF 2003.  "OPEC WILL BE READY TO 
MEET ANY INCREASE IN DEMAND," SAID AL-NASIRI, AND WILL 
REVIEW PRODUCTION LEVELS AGAIN AT ITS REGULAR MEETING IN 
SEPTEMBER. 
 
3.  (SBU) AL-NASIRI'S TECHNICAL CONSULTANT DR. IBRAHIM 
ISMAEL PRIVATELY TOLD ECONOFF ON JULY 28 HE DID NOT EXPECT 
MUCH DEBATE AT THE JULY 31 MEETING.  THE CARTEL WAS SEEKING 
TO MAINTAIN THE STATUS QUO -- LOWER OVERALL OPEC PRODUCTION 
IN JUNE AND CONTINUED DELAYS IN THE RESUMPTION OF IRAQI OIL 
EXPORTS HAD PUSHED OIL PRICES TO THE UPPER END OF THE OPEC 
PRICE RANGE. 
 
WAHBA 

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