But there are simply too many geopolitical issues at this very time so we have agreed to roll over (production quotas) and to monitor closely if there are any further developments.
More Quotes from Edmund Daukoru:
OPEC is not going to be the decisive action but we want to reassure the market by saying we have this extra capacity,Edmund Daukoru
The talk of an increase is mainly to give comfort to the market. It is refining capacity we have to worry about.
Edmund Daukoru
If we only followed strictly market analysis we should be doing some trimming of volume.
Edmund Daukoru
Two of the onshore blocks are well into the interior of the country.
Edmund Daukoru
We will really know from this where the constraint is and that's in the downstream, so nobody can blame OPEC. That's really the purpose of this,
Edmund Daukoru
We will collectively make a pledge to have the spare capacity available if needed, but I don't believe it is needed,
Edmund Daukoru
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