Opec Quotes

You've seen how OPEC has had some discipline, and that's helped to support the price of oil, and maybe the gold players are seeing that if they use some discipline as well that that may also affect the gold price and their business. - John Davidson

You have to leave OPEC to worry about its own problems. We have a shared commitment to stabilize markets. - Edmond Daukoru

You can never underestimate the potential for OPEC to do the wrong thing and push prices with their rhetoric or actions. - John Kilduff

Yesterday there were rumors that (OPEC president) Ali Rodriguez was going to push for pretty substantial production increases from OPEC, but what we've heard is that these production increases will be less than what was speculated... Yesterday had crude prices down sharply but they're rebounding today. Inventories are still low and demand, globally, continues to rise. - Mike Ryan

World energy supplies are more than adequate to compensate for any disruption... The response by OPEC and major producers like Saudi Arabia, and if needed, our large strategic stockpiles, will ensure that our economy will have the ample supply of energy it needs. - Spencer Abraham

With plenty of crude oil available to the market at present and some OPEC members signaling that lower oil prices may be acceptable to the group, the stage may well be set for further tests of support over the coming weeks. - Kevin Norrish

With oil prices this high I can't see OPEC cutting production. It's clear they won't change the quotas. Prices aren't going to fall a lot anytime soon. - Sarah Emerson

With oil prices at $60 a barrel it was a foregone conclusion they were not going to cut. If you do see disruption from Nigeria, if you do see disruption from Iran, the oil price will go substantially higher from here. So OPEC is reluctant to start turning the taps off just now. - Craig Pennington

With oil at this price level, we can definitely expect a cut in output. OPEC was only barred from doing so previously because of higher prices. - Makoto Takeda

With Nigerian problems, uncertainty about the Iran nuclear program before the IAEA (International Atomic Energy Agency) meeting next week, and the overhang of the Saudi attack and an OPEC meeting on the 8th, we are in for a lot of volatility in prices. - James Williams