World oil price can rise from present 22-23 dollars to 26 dollars per barrel to the end of 1999 - French experts

/PRIME TASS, Sep.20, 99/ - According to ITAR TASS message, world oil price can rise from present 22-23 dollars to 26 dollars per barrel before the end of 1999. Such opinion was stated by the French experts in the Parisian mass communications before opening of meeting of the OPEC ministers in Vienna (September 22). Experts believe, that OPEC present restrictive quotas for oil production will be saved till March 2000, and that it will cause the further rise in prices. Recognizing, that the stocks of raw oil of oil importers still great, the experts, however, points, that in the near future demand will by rise in the Asian countries which start to recover from a crisis. The second reason for the great demand will be, under their forecasts, future cold winter in Europe and USA. They points, that since the end of March, 1999 OPEC afraid of the oil price reduction have acted with the initiative of reduction of world daily production by 2.1 million barrels, including limiting own production by 1.7 million barrels. In August of the present year OPEC extracted daily 26 million barrels against 27.71 million of the previous year. In result the last 6 months price of oil has increased more than twice and reaches level of almost 23 dollars per barrel. By the International Power Agency valuations, in despite of a price rising, the world demand exceeds supply by 3 million barrels daily, and this tendency will be saved. The French experts also predict an opportunity of emergency meeting of the OPEC ministers in the beginning of 2000 to make the agreement about change of the present quotas.