Brussels, 18/01/2001 (Agence Europe) - In a communiqué published on Thursday, the European Commission declares that it "regrets the decision of the OPEC countries to reduce the quota of oil production by 1.5 million barrels a day", adding that "such a reduction may prove to be an obstacle to the reconstitution of stocks and increase price volatility". The rise in price "will have harmful effects for world growth", says the Commission. At the end of their ministerial meeting in Vienna on 7 January, the OPEC countries confirmed a reduction in production of 1.5 million barrels a day from 1 February, or a drop of 5% intended to stem the fall in the price of a barrel of crude. The rate for crude, which has been some $23 for the past few weeks, was $25 on Thursday.
The spokesperson for Commissioner de Palacio regretted the fact that consumer countries had not been consulted. "The Commission recalls the concern of consumer countries in seeking a balanced dialogue, for both hikes and falls in prices, with producer countries, in accordance with the spirit that reigned at the ministerial conference in Riyadh in October," the communiqué states.
The Commission recalls, moreover, that it would be presenting, at the Summit of Gothenburg in June, an energy saving plan and for the diversification of supply, along the lines of November's Green Paper on supplies. Efforts will, notably, concern petrol-free cars, and "green" fuels, as well as energy savings in buildings, she said.