OPEC members should stick to quota: Energy Minister

Riyadh - Feb 23, 2011 (WAM) - The current situation in Libya is unlikely to affect oil prices since the market is well supplied, said UAE Energy Minister Mohammed bin Dhaen Al Hameli. Al Hameli told WAM yesterday at the sidelines of the International Energy Forum in Riyadh that some OPEC members were producing their quotas. "Some (OPEC) member countries are not committed to their respective quotas. It is very important to adhere to quota at this time," he added. Al Hameli, who headed the country's delegation to the forum, said that OPEC was monitoring developments in Libya closely. "The market is naturally responsive but OPEC would intervene if the need arises." - Emirates News Agency, WAM