Cairo (Reuters)-OPEC ministers began arriving in Cairo Arab Thursday ahead of expected calls broach how high oil price of economy of the world can meet the bots like jumped higher annual over 91 a barrel.
Full Conference organization selected earlier this month to make a change to the policy export countries oil output has stuck since December 2008.
Since the oil must maintain a week more hrali 30 percent this year of low hit in May and this high scale of $91.63, hilly in two years.
Organization of Arab exporting countries (OAPEC), one of the Arab members of OPEC including exporter top Saudi Arabia, which has traditionally been viewed as a moderate price, as well as non-OPEC countries Tunisia, Egypt, Syria, Bahrain.
Ministers began arriving on Thursday when the meeting on Saturday when they will not take any formal decision on the output but you can still discuss production and price.
"$ 100 is a fair price for the time being," the most senior official oil of Libya Ghanem Shokri told Reuters the arrival in Cairo. He said that it is too soon to talk oil output changes.
Analysts say it is a strong defence encourages ???????? OPEC oil production, although the first of all by an official pumping restrictions agreed, rather than through policy change.
"I think we are going to see production more because oil is above us," said Patrick Armstrong is based on the London investment managers of Armstrong.
"The market can easily go to $ 100 because we're starting to see more assist allocation in order to maintain the real value of investment portfolios, but think we are going to see scenarios's spikes."
Ali Saudi Arabian Oil Minister Al-Naimi said at the beginning of November the consumers looking for a price range of $ 70-$ 90.
Later, he be reiterated the view this pre-this must be kept for two years to 70 $ $ 80 was the best range for producers to consumers, ensuring sufficient earnings to generate investment supply new avoiding harm economic which could break your demand.
Divergent price aspirations
But the other group pressed at the price higher, argue as regards relief, u.s. dollar (DXY) feeble that htiishr spaces between financial markets mean nominal oil price power.
Quito's earlier this month, OPEC Secretary Abdullah Al-Badri said that opec to base any change in the policy on a foundation of supply and demand rather than price alone.
"If he goes to 100 due to speculation, will not move," said OPEC Badri.
Agreed to cut of OPEC output record of 4.2 million barrels per day in December 2008 leaves much room for informal matches.
Its members have only delivered around half their cuts of the promised additional quantity was, in Reuters survey.
OPEC is stuck in the closest to the restrictions of its output the first part of 2009 when she works hard to shore up the market had crashed down just above 30 a barrel after beating the record June 2008 of almost US $ 150.
Oil demand is expected to increase next year is expected to take a completely new high power, but analysts are still careful to draw the distinction between the current market began at the beginning of a long Bull Run-decade culminated in 2008.
Where the rate of growth in demand next year in 1.5 million bpd, Reuters poll showed, only half of the peak in 2004, according to the international energy Bureau, data of 3 million bpd.
At the same time, spare capacity OPEC saving on any number of barrels million, inventory, crude oil, the world's largest consumer in the United States are still above the levels of the year before, even after this week reported a sharp decline.
(Writing by Barbara Lewis; editing by Tom Pfeiffer William Hardy)
