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OPEC President: $68-71 favorable oil prices

By Wang Jianfen and Wang Bo (chinadaily.com.cn)
Updated: 2009-07-03 15:26

Oil price floating between $68 and $71 per barrel is favorable for both oil consumers and producers, Jose Botelho de Vasconcelos, OPEC president said on Friday when attending the Global Think Tank Summit in Beijing.

"If the price rise to between $70 and $75 a barrel, oil producers are the beneficiaries," he said, who is also the Angolan Minister of Petroleum.

The OPEC president said earlier that the group's goal was to achieve $75 a barrel by the end of the year, according to Reuters.

The first Global Think Tank Summit will be held in Beijing from July 2-4, where close to 100 top-notch think tanks from home and abroad will be represented, including the Brookings Institution.
Main Forum
International Financial and Economic Crisis and Global Economic Outlook
Sub-Forums
I:  Promoting Trade Liberalization and Investment Facilitation
II: Sustainable Development and Macro-economic Policies
III: Cooperation and Responsibilities of Multinationals during the Financial and Economic Crisis
IV: Global Consumption, Savings and Financial Security
V:  Idea Exchange with Global Think Tanks on Key Economic Issues
Agenda
Afternoon of July 2 - Opening Ceremony
July 3 - Main Forum
July 4 - Parallel Sub-Forums
 
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