Edmund Daukoru
Edmund Daukoru
Edmund Maduabebe Daukoruis a former Nigerian Minister of State for Energy and was Secretary General of the Organization of the Petroleum Exporting Countriesin 2006. He became the Amayanabo, or traditional ruler, of Nembe Kingdom in 2008...
absolute both cannot cut decree forces market price subject
There is nothing like an absolute price level. You cannot decree an absolute price; everything is subject to market forces, and market forces cut both ways.
fair market price
A fair price is what the market can sustain.
concerned prices
Prices have their ebbs and flows. We are concerned that prices don't get out of hand.
cut hard prices reason
With prices over US$60, really I don't see a reason to cut production. It's pretty hard to see why we should cut.
compelling market price reason
I don't see any compelling reason for a cut. The market hasn't changed; the price is still $67 a barrel.
perception region safety
After Wednesday, the perception about safety in the region will change.
glad
I'm glad things have come to a crux.
meeting moving parallel
The two are moving in parallel but there is no meeting point.
capacity consensus share spare
We have a consensus that we want to put before the conference. We want to share the availability of the spare capacity with the market,
believe market
I still do believe the market is well supplied, even getting soft.
assured iranian minister shut spoke stated
I spoke with the Iranian minister and he assured me that on their own part they have never stated that they were going to shut production.
market oil remained
The oil market has remained well-supplied with crude.
almost china seen
That's what we have almost seen with China and India's demand.
case cutting high low
Anything in the high $50's or low $60's isn't a case for cutting output.