OPEC moves to bridge Saudi-Iran rivalry
OPEC ministers move toward consensus on output, defusing Saudi-Iranian rivalries
Minister of Energy Mohamed bin Dhaen Al Hamli of the United Arab Emirates, Venezuela's Minister of Energy and Petroleum Rafael D Ramirez, Saudi Arabia's Minister of Petroleum and Mineral Resources Ali Ibrahim Naimi, Secretary General of OPEC Abdalla Salem El Badri of Libya, Iraq's Minister of Oil and President of the Conference Abdul-Kareem Luaibi Bahedh and Austrian President Heinz Fischer, from left, listen to a speech during a seminar of the Organization of the Petroleum Exporting Countries, OPEC, at Vienna's Hofburg palace, Austria, on Wednesday, June 13, 2012. (AP Photo/Ronald Zak)
·Associated PressVIENNA (AP) -- Angola's oil minister is suggesting that OPEC will maintain present output levels as it seeks to lessen Saudi-Iranian rivalry.
Jose Botelho de Vasconcelos says "consensus .... is the goal of our organization."
That suggests the ministers are moving toward maintaining the status quo as middle ground between Saudi efforts to increase production and an Iranian push to cut output.
The minister spoke to reporters Thursday ahead of a meeting of the 12 oil ministers of the Organization of the Petroleum Exporting Countries focused on price and production targets.
Referring to the existing output target of 30 million barrels a day, he said "I think this ceiling is good."
