No. 22



Rodriguez Affirms OPEC Adherence To Price Band Agreement As Tellez Expresses Concern Over Low Inventories

Venezuelan Oil Minister and OPEC President Ali Rodriguez said on 22 May that he had listened to US concerns about high oil prices, but that OPEC member states had concluded that no supply increase is necessary under present circumstances. Mr Rodriguez made his comments as oil prices climbed once again last week, with Brent over $29/B and WTI over $30/B. The...