OPEC to meet in Osaka, Japan, Venezuelan official says

by The Associated Press

Ministers from the Organization of Petroleum Exporting Countries will hold their next meeting Sept. 18 in Osaka, Japan, a Venezuelan government source told Dow Jones Newswires July 15.

“All ministers are in favor of meeting in Osaka and there are no obstacles to have the meeting over there,” said the source, who declined to be named. OPEC usually meets in Vienna, Austria.

The meeting will precede a Sept. 21-24 international energy seminar in Osaka involving officials from oil producing and consuming countries.

OPEC is expected whether to increase production to meet an anticipated increase in demand next winter.

In June, the cartel left output unchanged at 21.7 million barrels per day, saying it was satisfied with current market prices.