Indonesia Energy Min:Oil Prices Require OPEC Output Boost

Indonesia’s Minister of Energy and Mineral Resources Purnomo Yusgiantoro said Wednesday that he had asked the Organization of Petroleum Exporting Countries to raise output to ease record-high global oil prices.

“We have asked OPEC to increase its oil production to cope with rising oil prices,” Purnomo told reporters.

“But I realize that OPEC has its own (production) limit.”

Purnomo’s request reflects Indonesia’s concern over the impact that global oil prices hovering around $60 a barrel may have on ballooning government fuel price subsidies.
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