Brussels, 19/09/2002 (Agence Europe) - According to AFP, the Organisation of Petrol Exporting Countries (OPEC) sated on Thursday that it would not increase its oil production but was committed to monitoring the market and taking necessary measures if the price of a barrel increased or fell below the 22-28 USD threshold. Interviewed by the press, Gilles Gantelet, spokesman for Loyola de Palacio, declared that, "Last week the Commissioner defended our position: an ideal price of USD 20 per barrel of oil but given the current situation, we are asking producer countries for the minimum, that is - respect for the threshold they fixed between USD 22-28". Ms de Palacio's propositions on a managed and co-ordinated stock of oil and gas has been adopted by the Commission (see EUROPE 12 September p 12). Mr Gantelet explained that price fluctuations, "are not due to production but also to geo-political factors: when the USA President makes a declaration on Iraq, that has an impact on oil prices". Mr Gantelet concluded that, "if oil prices continued to increase, it's proof that the proposals of the Commission are necessary and useful". As indicated in our publication yesterday, Ms de Palacio is currently in Japan attending the eighth International Energy Forum. Oil producing countries are also attending.