Meeting of energy ministers of USA and Venezuela finished in London; USA can not make OPEC to increase oil production from April

/IRBIS, Feb.29, 00/ - ITAR-TASS informs that uncertain situation has settled down on the world oil market after the key meeting of energy ministers of USA Bill Richardson and the ministry of energy and mining industry of Venezuela Ali Rodriguez in London. Two ministers made a brief statement after the meeting saying that they agree on "adequate" supplies of oil at reasonable prices are "key" factors for the world economy. It is said there are serious differences in the opinions though. The ministry of energy of USA says Kuwait, Saudi Arabia, Norway and Venezuela confirmed that they will consider the market situation and oil production volumes again, and support the world economic growth. He considers it as "an obligation to increase the production". The oil minister of Venezuela said "natural reduction" in demand due to coming spring and summer in Northern hemisphere would decrease the world demand for oil and it would be dangerous for OPEC to increase oil production in the second quarter. London International oil exchange reacted to the results of the meeting by 29 cent increase in Brent blend of oil, which reached $27.70 per barrel. Oil brokers believe it will be hard for USA to persuade OPEC into sharp increase in oil production from April 1 of this year.