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Jose Maria Botelho de Vasconcelos, president of the OPEC conference and minister of petroleum from Angola, sits down for a news conference following the 154th meeting of the Organization of the Petroleum Exporting Countries (OPEC) at their headquarters in Vienna, Austria, Thursday, Sept. 10, 2009. AP Photo logo AP Photo 11 months ago

Jose Maria Botelho de Vasconcelos, president of the OPEC conference and minister of petroleum from Angola, sits down for a news conference following the 154th meeting of the Organization of the Petroleum Exporting Countries (OPEC) at their headquarters in Vienna, Austria, Thursday, Sept. 10, 2009.

Related Photos

  1. A worker is seen at the Gathering Center 15 (GC 15) oil facility 28 March 2005 in the northern Al-Rawdhatain oilfield, 80 Kms from Kuwait City. OPEC-member Kuwait will boost its crude output by more than 150,000 barrels per day (bpd) when its largest gathering center becomes fully operational next month, an oil executive said. The center was partly reopened in January, nearly three years after it was shut down because of an explosion that killed four workers, wounded 19 and damaged more than half the facility.
  2. View of Venezuelan SINCOR refinery Jose plant in Barcelona, east of Caracas 26 May, 2006. Though Venezuela is a major player within OPEC (Organisation of Petroleum Exporting Countries) and is hosting the organisation's next meeting on June 1, its oil production difficulties are dampening the effect of President Hugo Chavez's flamboyant style and rhetoric. Chavez is also likely to trumpet his policy of providing cheap energy to deprived sections of society both at home and abroad, with beneficiaries to date including parts of the United States, as well as Cuba and parts of the Caribbean. Analysts note this clearly political strategy has set Venezuela apart from its fellow OPEC members.
  3. CORRECTION-COUNTRY IN IPTC An attendant fills up a car at a petrol station in Hong Kong on May 9, 2008. World oil prices hit a fresh record high point close to 125 USD per barrel, extending this week's record run after OPEC insisted the market was well-supplied and driven by speculators.
  4. A motorist holds a fuel pump as a drop of gasoline falls down at a petrol station in downtown Tehran, 19 April 2006. Iran's President Mahmoud Ahmadinejad has called on oil producers, in particular fellow OPEC members, to sell a part of their crude production to poor countries at 'better prices'.
  5. An Iranian motorcyclist takes the pumper to pump gasoline at a petrol station in downtown Tehran, 19 April 2006. Iran's President Mahmoud Ahmadinejad has called on oil producers, in particular fellow OPEC members, to sell a part of their crude production to poor countries at 'better prices'.
  6. Gasoline delivery truck driver Robert Clark prepares to fill the underground gas tanks at a Shell station in Glendale California, 26 March, 2004. Red-hot oil prices cooled slightly on 02 June 2004, after OPEC kingpin Saudi Arabia promised to boost output to bring down record high prices, though traders remained sceptical of its chances of success. Saudi Oil Minister Ali al-Nuaimi said ahead of an OPEC meeting in Beirut the oil-rich kingdom was 'fully ready' to increase oil production in an effort to return prices to OPEC's target range of 22-28 dollars a barrel. Organization of Petroleum Exporting Countries(OPEC) ministers gathering in the Lebanese capital for a formal meeting on 03 June are under heavy pressure from the United States and European nations to open up the taps.
  7. Jose Maria Botelho de Vasconcelos (L), President of the OPEC Conference and Angolan Minister of Petroleum, Paulo Kassoma (C), Angolan Prime Minister and Libyan General Secretary Abdullah El-Badri sit during the155th OPEC summit in Luanda on December 22, 2009. The OPEC oil producers' cartel held its crude output quotas unchanged at its meeting on Tuesday, Algeria's oil minister Chakib Khelil told reporters.
  8. A statue of a flying bird is backgrounded by OPEC headquarters in Vienna 20 September 2005, the host of the second day of 137th meeting of the OPEC conference. OPEC ministers were set Tuesday to fight high oil prices by supplying extra oil if needed, but a fierce storm off the US Gulf coast threw clouds over the cartel's control of the market.
  9. Minister and representatives sit at the round table at OPEC headquarters in Vienna 15 September 2004, during the 132nd meeting of the OPEC conference. OPEC decided today to increase its official output by one million barrels per day from November 1.
  10. Organisation of Petroleum Exporting Countries (OPEC) ministers take place for a meeting in Vienna on March 15, 2009. Minister of OPEC, which pumps 40 percent of the world's crude, meet in the Austrian capital today, raising speculation of more production cuts as the worldwide recession batters demand for oil. The oil price has lost more than 100 dollars per barrel since reaching an alltime high above 147 dollars last July.
  11. Libyan General Secretary of OPEC Conference Abdullah El-Badri sits during the155th OPEC summit in Luanda on December 22, 2009. The OPEC oil producers' cartel held its crude output quotas unchanged at its meeting on Tuesday, Algeria's oil minister Chakib Khelil told reporters.
  12. OPEC president Jose Maria Botelho de Vasconcelos of Angola opens the 154th regular OPEC meeting in Vienna on September 9,2009. OPEC ministers are optimistic that the worst is past in the global downturn which has sapped energy demand, the president of the oil producers' cartel said on Wednesday at an output meeting.
  13. Organization of Petroleum Exporting Countries (OPEC) Secretary-General Abdalla Salem El-Badri gives a press conference on July 8, 2009 to present the organization' World Oil Outlook 2009 report at OPEC headquarters in in Vienna. In its report, OPEC has revised downwards its medium and long-term forecasts for global oil demand in the wake of the current economic crisis.
  14. Leaders attending the Organisation of Petroleum Exporting Countries (OPEC) summit pose for a picture at King Abdul Aziz Palace in Riyadh, 17 November 2007. OPEC heads of state met in Riyadh today for a rare summit, with the organisation divided over the falling US dollar and attempts to give a political impetus to the oil-exporting cartel. Venezuela's President Hugo Chavez took the podium for the opening as he joined fellow leaders from OPEC oil-exporting countries for only the third gathering of heads of state in the organisation's 47-year history.
  15. OPEC members speak to their chairman and minister of energy of Kuwait Sheikh Ahmad Fahd Al-Ahmad Al-Sabah (2ndL) prior to the press conference at the end 137th meeting of the OPEC conference in Vienna 20 September 2005. AOPEC will make an extra two million more barrels per day available to oil markets from October 1 if there is demand for the crude, the Organization of Petroleum Exporting Countries said Tuesday in a statment.
  16. Organisation of Petroleum Exporting Countries (OPEC) ministers take place for a meeting at their headquaters on March 5, 2008 in Vienna. OPEC, meeting here Wednesday, was set to leave oil output unchanged despite fresh calls by US President George W. Bush for an increase in supply to help bring down soaring energy prices.
  17. OPEC president and Indonesian minister of energy and minerals Purnomo Yusgiantoro (2nd L) speaks to the press as he concludes the 132nd OPEC meeting in Vienna on 15 September 2004.
  18. A photo taken March 17, 1986, of an OPEC meeting in Geneva. Average world oil prices fall by over 50 percent in 1986. There is wide use of netback pricing. The 1986 oil price collapse benefited oil-consuming countries such as the United States, Japan, Europe, and Third World nations, but represented a serious loss in revenue for oil-producing countries in northern Europe, the Soviet Union, and OPEC.

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