OPEC to discuss possible output rise for September, president says

OPEC to discuss possible output rise for September, president says

Agence France-Presse, Jakarta

The Organization of Petroleum Exporting Countries (OPEC) will
discuss a possible output rise for September, (OPEC) president
Purnomo Yusgiantoro said on Wednesday.

Asked by reporters whether OPEC plans such an increase,
Yusgiantoro replied: "We'll discuss it."

He said he would travel to Vienna later on Wednesday to
discuss a report by a team which monitors market developments.

"I'm going there to see the latest supply and demand balance,"
he said.

Yusgiantoro said there was a tendency for oil prices to rise
owing to increasing demand but added that OPEC had increased
production.

OPEC agreed last month to raise its output ceiling by 2.5
million barrels a day in two stages in its effort to curb high
world prices.

A rise of two million barrels per day began this month while
the 500,000 rise is due to go into force on Aug. 1.

Yusgiantoro, who is also Indonesia's energy minister, said
calls by OPEC for non-members to raise production have received
no response even though they have large spare capacity.

Yusgiantoro said OPEC still had spare capacity but only for a
short term.

"That is why we asked non-members to help increase world oil
supply," he said.