Increase in oil production of OPEC member-countries is meant to stabilize the world market - ministry of energy of Venezuela

/IRBIS, March 21, 00/ - PRIME-TASS informs, with the reference to the minister of energy and mining industry of Venezuela Ali Rodriguez, that increase in oil production of OPEC member-countries is meant to stabilize the world market. He had talks with the minister of oil of Kuwait Saud as- Sabakh within a framework of consultations of the ministers of OPEC member-countries before March 27 meeting in Vienna. The minister said if the cartel intended to increase the oil production then it should be significant so that the world market could feel it, unless small increase would be meaningless. Rodriguez said OPEC member-countries were holding discussions not only among each other, but also with other major oil exporters - Russia, Norway and Mexico. He expressed his satisfaction with current oil prices, but said the market should be stabilized. Mr. Rodriguez said there was a mutual understanding within OPEC regarding the achievement of balance between the interests of the buyers and the sellers of oil. He mentioned of fixed prices for stabilization of the oil market. In February daily exports of OPEC member-countries were 26.6 mln barrels, 530 th. barrels more than in January. Supply reached 75 mln barrels a day, while demand was at 77 mln barrels a day, causing the price to jump to a record high $31 per barrel.