OPEC leaders fly home after gathering's call for dialogue and stability
OPEC leaders flew home after a landmark summit marked by conciliatory signals to governments that blame the cartel
for soaring oil prices, but markets remain to be convinced. The two-day gathering's call for dialogue and stability
was not expected to have any major effect on world oil markets in the absence of concrete proposals on production and
prices.
"We want to be friends and partners," OPEC Secretary-General Rilwanu Lukman said, stressing that the oil-producing
cartel wanted a dialogue with consumer nations instead of past confrontation. The feel-good tone of the gathering
that brought together presidents and sovereigns was underlined by repeated calls for market stability, fair prices,
and adequate crude supplies.
A potentially divisive suggestion that the gathering call for an end of the multi-national embargo against Iraq was
shelved in the name of unity within the 40-year-old OPEC. But the dignitaries did reiterate concern over high taxes
levied by consumer states on oil products.
The OPEC leaders have been seeking to calm world oil markets, which have seen prices soaring again in the last few
weeks, sparking warnings of global economic slowdown and protests, notably in Europe.
