U.S. Disappointed with OPEC Oil Output Cuts
(Oil producers should not hurt consumers, energy secretary says)
1 April 2004

Source: Office of International Information Programs, U.S. Department of State.

U.S. Secretary of Energy Spencer Abraham says he is disappointed with the OPEC petroleum cartel's decision to cut oil production.

In a March 31 statement, Abraham said that oil producers should not take actions that hurt consumers.

A day earlier the 11 member nations of OPEC (the Organization of Petroleum Exporting Countries) announced that starting April 1 they were going to implement a decision they had agreed on earlier to cut oil output by one million barrels per day.

Following is the text of the Abraham's statement:

U.S. Department of Energy

March 31, 2004

Statement of Energy Secretary Spencer Abraham on OPEC Decision

WASHINGTON, DC --- Energy Secretary Spencer Abraham issued the following statement today:

"We are disappointed with OPEC's decision today. Producers should not take actions that will hurt consumers. This Administration is working actively on behalf of the American people and stressing to big producers that high energy prices are unacceptable. We do not comment on the substance of these discussions, but they will continue. However, today's action illustrates why we must enact a national energy policy that reduces our dependence on foreign oil by increasing domestic supply. As we have been saying for the last three years, we need to develop ANWR's [Arctic National Wildlife Refuge] significant resources."