OPEC is not going to be the decisive action but we want to reassure the market by saying we have this extra capacity,
More Quotes from 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
But mainly it's the threatening statements being made against Iran as a result of its nuclear program.
Edmund Daukoru
We hope that will assure the market. We are working on the exact wording.
Edmund Daukoru
If we only followed strictly market analysis we should be doing some trimming of volume.
Edmund Daukoru
Just rest assured, we are under obligation to the market to keep the market well supplied. We meet as often as it takes to micro-manage the short-term volatility.
Edmund Daukoru
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