OPEC ministers reported no movement (the Arizona Republic) output

QUITO, Ecuador (AP) - OPEC oil Ministers in advance of the meeting of Saturday reported that they see no reason to change the target output data current global economic gloom, though they expect demand for crude oil continues to grow. "What is right is now equilibrium in the price of oil," Minister of oil in Angola, Jose Maria Botelho de Vasconcelos said Friday after their arrival in this Andean capital. "" " I think $90 dollars (a barrel) is a comfortable price. "OPEC, which is responsible for 35 per cent of global oil production has not changed its quota production since the end of 2008. Last month, oil Minister Ali Naimi said oil between 70 and $90 per barrel is tolerable for consumers.He echo this feeling upon arrival in Quito on FridayThe cartel 50 years has been a good year, with prices hovering in the mid$ 80 and profits 32 per cent in 2009 to 750 billion, according to estimates.Oil range Department of energy of the United States reached a period of two years of almost $91 Tuesday - as gauged traders dimensions of 2011 the request and responded to an appearance especially harsh winter entrepreneurial International Energy Agency said Friday that consumption higher than expected next year in North America and emerging Asian economies, led by the China could oblige the OPEC to stimulate supply "if prices continue their relentless rise."Issuance of global demand for oil in anticipation, I said it provides for an increase in demand next year 88.8 million barrels per day, 260 000 barrels daily more than previously forecast.The based in Paris Agency nevertheless said that he "rapid agreement" by Ministers of OPEC to maintain prices targets.Analyst output David Kirsch, PFC Washington energy has agreed, citing inventories healthy current and ongoing global economic uncertainty. "If the request turns to be greater that have planned them, there is still an airbag there and they can return later and increase production,"he told the Associated Press." "Or most likely, what happens is cheating members individuels.Approvisionnement oil in major industrialized countries and China are currently well above normal, and while OPEC provides a boost demand in North America and China in the monthly market report published Friday he believes that Europe West date debt crisis will dampen consumption last changed there.OPEC exit at the end of 2008 when he capped a record reductions to help set prices boost that had fallen with the global financial meltdown.Some analysts believe conditions are now conspire against much more pressure to increase prices, as the effects wear off the coast of the US Federal Reserve Bank to issue and to purchase up to 2.3 trillion in u.s. Treasury bonds decision." The post-meltdown - essentially printing money - moving made cheaper u.s. exports abroad and boosted the price of oil. It has also encouraged the Chinese buy and store several analysts oil.Many believes $100 a barrel of oil is inevitable in 2011 if it could take months. "It could be quite interesting trip where we are now, especially given the economic risks are always present on the market,"said.Ecuador Kirsch, who joined OPEC in 2007 after 15 years of absence, holds the rotating Presidency this year." The Iran will be for 2011.