"The higher agreed OPEC production levels effective since November and expected output from Angola and Iraq should help to ease the perception of market tightness,"
OPEC said in it's latest monthly report. OPEC Thursday said it produced an average of 30.998 million b/d of crude in October, up from an estimated 30.731 million b/d in September mainly on the back of higher volumes from Angola, Iraq and Saudi Arabia.
"Negotiations are going on with Iran, and we will stick to all sanctions of the UN and the EU, but that's it,"
Wolfgang Ruttenstorfer, the CEO of Austria's OMV said Thursday. When asked whether he was concerned by the increased sanctions imposed on Iran by the US, Ruttenstorfer said: "We observe it with quite some caution and very carefully you can be sure, but legally binding for us is the UN and EU."
Updated: November 15, 2007
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