US government disappointed at OPEC's decision to cut output

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Last updated at: (Beijing Time) Thursday, April 01, 2004

US government disappointed at OPEC's decision to cut output

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White House spokesman Scott McClellan said on Wednesday that US President George W. Bush is "disappointed" at the decision of the Organization of Petroleum Exporting Countries (OPEC) to cut oil production.

"Producers should not take steps that harm American consumers and our economy and we will continue to be actively engaged in discussions with OPEC and non-OPEC producers around the world to let them know our views," McClellan said.

however, he stressed that oil prices should be set by the market.

Oil ministers from the 11-nation OPEC decided at a meeting in Vienna to stick to a decision taken on February 10 in Algiers to reduce their daily production ceiling by 1 million barrels to 23.5million barrels from April 1.

Source: Xinhua

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