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1)OPEC Consents to Oil Production Increase

时间:2005-05-29 16:00:00

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Broadcast: Jan 12, 2003

 

The Organization of Petroleum1 Exporting Countries has agreed to increase production to 24.5 million barrels per day to cover a shortfall of oil from Venezuela, where a six week strike has disrupted crude exports.

OPEC ministers, meeting in closed session, agreed to increase production by 1.5 million barrels per day.

The oil minister of the United Arab Emirates said this would offset2 the shortfall in production resulting from the six-week strike in Venezuela, normally the cartel's third-largest producer.

The emergency session was called amid 2)deteriorating market conditions. Crude prices surged last week to a two year high of $33 per barrel, well above OPEC's target price of $22-28 per barrel.

The increase is to take effect February 1, and will be reviewed at a regular meeting in March.

Analyst3 Raad Alkadiri, of the PFC energy research organization, told VOA that the oil cartel is also concerned about a possible war in Iraq. "OPEC is dealing4 with the Venezuela issue and has a side eye on a potential war in Iraq and the kind of disruptions that might bring," he explained. "So, consequently, it is looking at a swing in production of somewhere around four million barrels a day at the worst, which means, it needs to be flexible," he said.

OPEC accounts for about one-third of the world's crude supplies, which total 79 million barrels per day.

Melanie Sully for VOA news, Vienna

 

1)      OPEC 石油输出国家组织

2)      deteriorate[di5tiEriEreit]v. (使)恶化




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1 petroleum WiUyi     
n.原油,石油
参考例句:
  • The Government of Iran advanced the price of petroleum last week.上星期伊朗政府提高了石油价格。
  • The purpose of oil refinery is to refine crude petroleum.炼油厂的主要工作是提炼原油。
2 offset mIZx8     
n.分支,补偿;v.抵消,补偿
参考例句:
  • Their wage increases would be offset by higher prices.他们增加的工资会被物价上涨所抵消。
  • He put up his prices to offset the increased cost of materials.他提高了售价以补偿材料成本的增加。
3 analyst gw7zn     
n.分析家,化验员;心理分析学家
参考例句:
  • What can you contribute to the position of a market analyst?你有什么技能可有助于市场分析员的职务?
  • The analyst is required to interpolate values between standards.分析人员需要在这些标准中插入一些值。
4 dealing NvjzWP     
n.经商方法,待人态度
参考例句:
  • This store has an excellent reputation for fair dealing.该商店因买卖公道而享有极高的声誉。
  • His fair dealing earned our confidence.他的诚实的行为获得我们的信任。

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