OPEC DEFENDING 18 DLR PRICE, SUBROTO SAYS

  Indonesian Energy Minister Subroto said
  OPEC is deliberately under its production ceiling of 15.8 mln
  barrels to defend its 18 dlr a barrel price target.
      He told reporters at an energy conference in Jakarta that
  OPEC had decided to maintain its price level of 18 dlrs.
      "We are deliberately defending the price, so OPEC production
  is less than 15.8 (mln) at the moment," he stated.
      Asked if OPEC would increase production if prices went
  above 18 dlrs a barrel, he said this would be decided at the
  next OPEC meeting in June. "We will discuss the market situation
  then," he added.
      He said a meeting of the OPEC Differentials Committee had
  been postponed because "there is no need for the meeting."
      He did not elaborate. The committee had originally been due
  to meet in Vienna this week.
  

