OPEC reiterates will ensure stable oil market amid terror attacks

OPEC reiterates will ensure stable oil market amid terror attacks

London (Platts)--7Jul2005


OPEC Thursday sent condolences to the British government following the transit
bombings in London earlier in the day, and said is was ready to work with
other oil producers and consumers to make sure such acts of terrorism did not
disrupt world energy markets. 

"[OPEC President Sheikh Ahmed Fahed al-Sabah] reiterated OPEC's continued
readiness to work with both developing and developed countries--producers and
consumers alike--to ensure that such acts were not allowed to disrupt
stability in world energy markets, particularly oil market stability, which,
he said, was so important to sustained economic growth and the advancement of
global prosperity," OPEC said in a statement. "And he affirmed that OPEC stood
ready to assume its responsibility and to work with others for the stability
and security of the oil market," it added.

"On behalf of OPEC, I am writing to convey to you, Mr Prime Minister, and
through you, to Her Majesty's Government and to the people of the United
Kingdom of Great Britain and Northern Ireland, our most heartfelt condolences
following the dastardly terrorist attacks which struck London earlier today,"
Sheikh Ahmed said in a letter to UK Prime Minister Tony Blair. 

"OPEC's voice loudly joins the chorus of all those who rightfully and
vociferously condemn these repeated acts of terrorism," he added. "OPEC
observed, 'with enormous sadness', that this tragedy had occurred at the same
time as the Summit of the Group of Eight Leaders was meeting in Scotland to
discuss crucial global economic issues regarding debt in developing countries
and the alleviation of poverty, as well as trade and the environment," OPEC
added. At least 37 people died in four separate explosions on underground
trains and a bus in central London.

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