In a statement Purnomo said, “So far only Saudi Arabia [has] reported its spare capacity. About the others, we still want to inventarise to see the spare capacity we have, but the feeling is that there are still about two million [barrels per day].”
“However, a decision will only be taken at the OPEC meeting in Vienna on September 14, at which major non-OPEC producers would also take part. We also hope that those non-OPEC countries which do have the production capacity, prepare to produce more,” he added.
Purnomo went on to reveal the cartel’s current production levels were at 30 million bpd, which is 2 million barrels over its quota, but he continued to place the blame for the high price of world oil on other factors.
According to Purnomo, “We are concerned with the high oil prices but this is not caused by fundamental factors as oversupply in the world market to currently stand at around 1.5 to two million barrels per day. It is not a matter of supply and demand.” He did not elaborate further.
