Our position is that we must evaluate a cut of between 500,000 and one million barrels per day (bpd).

We're working to put those barrels in place in the shortest time possible

We are removing two million barrels a day from the market and we will make it clear that this is the first step to another possible reduction,

Everyone is building inventories, Japan, the U.S., and that is very dangerous. There is an oversupply of one million barrels a day.

The market looks well supplied, in fact oversupplied, by 2 million barrels a day. We believe OPEC has to be ready to cut, maybe now in this meeting, maybe at the next meeting.

The market is overstressed ... this means we have to cut around 500 000 barrels a day.