"If the level is what we have here, we are not in favor [of another cut]".
SKuwaiti oil minister Sheikh Ali al-Jarrah al-Sabah Tuesday reiterated that he did not see the need for another OPEC production cut in Abuja if oil prices remained at current levels.

"It is obvious that the view attributing [the] oil price hike to China's oil import growth fails to grasp the underlying factor that has led to the rise of oil. It is also a vicious attempt to deliberately exaggerate the impact of China's increasing energy demand on the global energy market".
Zhang Guobao,vice-chairman of the Chinese government's key energy regulator, the National Development and Reform Commission,commenting on China's growing energy demand and its possible impacts on prices and global energy security at an International Energy Agency seminar in Sydney on Tuesday.

Updated: 12/12/06