Qatar is satisfied with conditions in the oil market and sees no need for OPEC to change output, Energy Minister Abdullah bin Khalifa al-Attiyah said on Monday.
Attiyah said he agreed with Saudi Arabia’s Oil Minister Ali al-Naimi’s remarks to the Wall Street Journal in which he signalled that the market was healthier than before and that OPEC may not need to change output.
“I agree [with Naimi] 100 percent,” he told reporters.
“Assuming there will be no change in the scenario, then, yes, I would be happy to see that,” he said referring to the prospect of OPEC keeping output steady in March.
“I am confident that OPEC will not change, but if we have a dramatic change [in prices], and it depends on how dramatic, then this will have to be [discussed],” Attiyah said.
“Below $50 [a barrel] is not good for producers and higher than $60 is not good for consumers.”
“So we have to play [it] in a way to make everyone smile.”
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