Predicting OPEC decision is premature, says Saudi official

(AGI) Riyadh, March 16 - A senior advisor to Saudi Arabia's oilminister, Ibrahim al-Muhanna, said on Monday that it is tooearly to predict whether the Organization of PetroleumExporting Countries (OPEC) will maintain its productionthreshold policy in June. "I am confident that demand is andwill be stronger," al-Muhanna said during a press conference onenergy. "Supply will remain healthy, and the price will firmup." The fall in oil prices, he said, was caused by speculationand expectations, not the market's fundamentals. Saudi Arabiaremains committed towards a stable oil market and oil pricestability, he

(AGI) Riyadh, March 16 - A senior advisor to Saudi Arabia's oilminister, Ibrahim al-Muhanna, said on Monday that it is tooearly to predict whether the Organization of PetroleumExporting Countries (OPEC) will maintain its productionthreshold policy in June. "I am confident that demand is andwill be stronger," al-Muhanna said during a press conference onenergy. "Supply will remain healthy, and the price will firmup." The fall in oil prices, he said, was caused by speculationand expectations, not the market's fundamentals. Saudi Arabiaremains committed towards a stable oil market and oil pricestability, he added.. .