JAKARTA - Some members of the Organization of Petroleum Exporting Countries (OPEC) want the group to reduce its oil production by 1 mln barrels per day (bpd), Indonesian governor for OPEC Maizar Rahman said.

'Indeed there are several members who wish for a production cut of 1 mln barrels per day,' Rahman told reporters, without providing an explanation. Indonesia, however, opposes a production cut as oil prices remain above 60 usd a barrel, he said. 'We are in support of low oil prices.' If oil prices fall to 50 usd a barrel, Indonesia will no longer have to subsidize domestic fuel prices, he said.. Conditions for raising world oil supply are expected to improve in the second quarter, which may result in lower prices, Rahman said. Crude for February delivery hit a three-month high at 63.80 usd a barrel before closing up 2.10 usd or 3.4 pct at 63.14 usd on the New York Mercantile Exchange in overnight trade. PIN/AFX
کد خبر 76543