IEA's Mandil does not expect OPEC to opt to trim output Wednesday

Washington (Platts)--7Mar2006

Claude Mandil, the executive director of the Paris-based International
Energy Agency, said here Monday that he does believe that OPEC will alter its
current crude oil production ceiling of 28 million b/d at Wednesday's
ministerial meeting in Vienna, Austria.
     Mandil, who heads an organization comprised of the world's major
industrialized energy consumers, cited continued both high prices and
political instability in Nigeria as key reasons for OPEC not to change its
output.
     The IEA chief also noted that, "even if demand for products in the second
quarter decreased, demand for crude oil" in the period would likely increase.
"At this time, (crude) stock increases are needed," he concluded.

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