OPEC Recognises NTC As Libya's Representative: The Organisation of Petroleum Exporting Countries ... bit.ly/oeVkrL #africa #libya
The OPEC's recognition, according to a report by Aljazeera came after the United Nations approved a Libyan request to accredit envoys of the country's interim government as Tripoli's sole representatives at the world body last Friday The Organisation of Petroleum Exporting Countries (OPEC) said it has recognised the National Transitional Council (NTC) as Libya's representative. Libya is one of the major oil producers in Africa and a committed member of OPEC.
Saudi Arabia and its Gulf OPEC allies had raised their oil production over the last few months, after failing to convince other OPEC members at their last meeting in Vienna in June to raise output to make up for the loss of Libyan crude since February. Badri said those countries are likely to gradually decrease their output as Libya's production recovers towards pre-war levels.
OPEC will recognise the NTC ... and they will sit in the same chair," OPEC's Secretary General Abdullah al-Badri was quoted by the agency to have said at the just-concluded Gulf Intelligence energy forum in Dubai.
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