Agence France Presse

Cairo, March 15:

Qatari energy minister Abdullah bin Hamad Al-Attiyah today said OPEC’s decision ‘so far’ is to proceed with an oil production cut of one million barrel per day planned for April 1.

“So far yes, he have this position,” he told reporters in Cairo when asked whether he was confident that the 11-member oil cartel will go ahead with a decision taken last month, at a meeting in Algiers, to reduce on April 1 its production ceiling from 24.5 million bpd to 23.5 million bpd.

He said no OPEC member has officially submitted so far a proposal to delay the cut, which was decided because of fears that oil prices could crash in the second quarter because of lower demand, as the winter season ends in the northern hemisphere.