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12/15/2011 Marsiglia: careful OPEC, caution in anticipation of new shares

Expected outcome for the 160th OPEC summit after last June, the oil-producing countries have decided to adopt a prevention and care, raising the output of immision production of crude oil on the market waiting for Libya return to pre-conflict, this means carefully in anticipation of possible ! new actions and political situations in some countries members of the Cartel - these are the words of the FederPetroli Italia President - Michele Marsiglia on the sidelines Summit held in Vienna.  Marsiglia said - we waited the decision of OPEC to compare and find the policies taken by us and the sentiment of the markets that we have seen last months. Despite rumors that in the euro area and elsewhere there is a surplus of crude oil. The decision to raise production indicates something else, and if OPEC decided on a hedging strategy gives us reflect that the market will be subject of following the economic shocks of emerging economies and the situation is not well defined in some Middle Eastern countries. We expect fluctuations on international oil prices to be able to reach a settlement is not until mid 2012 - Marsiglia concludes after the vision of the evolution of stock markets to close the Vienna Summit.