DJ Indonesia to discuss supply, pricing at Saudi oil summit

21-Jun-2008 Intellasia | BDow Jones | 7:01 AM Print This Post

Indonesia will likely discuss methods to better stabilise the supply and pricing of oil at an international energy conference in Jeddah in Saudi Arabia later this week, Maisar Rachman, Indonesia’s governor for the Organisation of Petroleum Exporting Countries, said Thursday.

He told reporters the country’s agenda will include discussions on minimising speculation in the oil markets, structuring the futures trade, stabilising currencies used to trade oil, increasing investment in oil production and assisting in the mitigation of the effects of high oil prices on developing economies.

Minister for Energy and Mineral Resources Purnomo Yusgiantoro said earlier Thursday he would be attending the meet, which will bring together oil officials from China and other major oil consumers over the weekend.

Purnomo couldn’t be reached for comment on Indonesia’s agenda at the meet.

 


Category: ResourceAsia

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