Minister: Mexico To Take Part In OPEC Meet, Won't Cut Oil Output

Rig Zone ^ | October 14, 2015 | Reuters

[thackney]

Mexico will take part in a technical meeting of the Organization of Petroleum Exporting Countries (OPEC) on Oct. 21 in Vienna but will not cut oil production, the country's energy minister Pedro Joaquin Coldwell said on Wednesday.

Joaquin Coldwell pointed to flagging oil output, which has steadily declined since reaching a peak of some 3.4 million barrels per day in 2004, to explain why Mexico would attend but not consider pumping less crude....

When asked about the proposal, Coldwell declined to comment, saying he was not familiar with it and would make a decision after it was presented at the meeting.

OPEC has invited eight oil-producing countries that do not belong to the organization to attend the meeting, in an attempt to devise a strategy to underpin slumping oil prices, Venezuela's Del Pino told Reuters on Tuesday.

Delegations from non-OPEC members Azerbaijan, Brazil, Colombia, Kazakhstan, Norway, Mexico, Oman and Russia were invited but not all have responded yet, Del Pino said.

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