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IEA sees no harsh decision from Opec meet
(REUTERS)

2 February 2004
NEW DELHI - The International Energy Agency is confident the Opec oil group will not take any "harsh decisions" at its February meeting in Algiers but the group should have acted months ago to better manage the market.

In recent days, some Opec ministers have said it was likely to decide to keep official production limits unchanged when it meets on Feb 10, calming fears the group might try to cut output to prepare for lower world demand in the second quarter. IEA's Executive Director Claude Mandil told Reuters on the sidelines of a gas conference: "I am confident they will not take too harsh decisions but I think it is very late."

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