'OPEC should maintain output'

'OPEC should maintain output'

JAKARTA: Indonesia's Energy and Mineral Resources, Purnomo Yusgiantoro, on Monday reiterated the country's stance that the Organization of Petroleum Exporting Countries should vote to maintain its current production level at its meeting on Thursday in Vienna.

"Indonesia will urge OPEC to continue observing global oil market developments without cutting the current output level," he said.

OPEC's crude oil production ceiling currently stands at 25.4 million barrels a day.

Purnomo said global oil prices remain good, as Iraq's crude oil production level is still unstable, and the U.S. stockpile is declining.

Purnomo won't be attending the meeting due to the annual session of the nation's highest legislative body being held in early in August. The MPR will hold its annual session from Aug. 1-10, and during this period, some key ministers and other senior government officials won't be allowed to travel overseas.

Indonesia is OPEC's only Southeast Asian member. -- Dow Jones