	saudi success seen in curbing opec production saudi arabia will succeed in pressuring other members of the organization of petroleum exporting countries to stay within their production quotas said morgan stanley group managing director john wellemeyer wellemeyer speaking to reporters at an offshore oil engineering conference also said he expected opec nations to attempt to hold prices under dlrs a barrel for several years to keep industrial demand for residual fuel oil strong over the next few weeks i think you ll see a concerted effort by the saudis to get production down wellemeyer said the saudis are committed to that price level of dlrs a barrel and are willing to make it happen again he said in recent weeks oil prices fell to the to dlrs a barrel level on market reports of some ope members producing above their quota pushing total opec production to mln barrels per day but prices rebounded today with april u s  prices up about one dlr to over dlrs a barrel on a belief saudi arabia is attempting to curb opec output wellemeyer said that sharp declines in u s oil production could push demand for opec oil above mln barrels per day as early as and up to mln barrels per day by although the projected increases in demand for opec oil should strengthen world prices wellemeyer said he believed the organization would hold its official price below dlrs a barrel for some time to prevent residual fuel users from switching to natural gas supplies the interfuel swing market accounts for about eight mln barrels a day or pct of the world demand for oil reuter 
