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13

OPEC Pledged To Meet Oil Supply

OPEC President pledged sufficient oil supplies to meet demand from a "robust'' global economy

OPEC President Mohamed al-Hamli pledged sufficient oil supplies to meet demand from a "robust'' global economy.

The Organization of Petroleum Exporting Countries, whose members produce 42 percent of the world's oil, has implemented more than 60 percent of the 1.7 million barrels a day in production cuts agreed late last year, he said.

'Economic figures are robust and we are making sure there is adequate supply,'' al-Hamli said in an interview in Bangkok, after attending an energy conference. ``2006 was an exceptional year.''

The world economy is poised for its fastest five-year growth streak in three decades, the International Monetary Fund said Jan. 16, adding that declining oil prices have helped make its forecast more certain.