<article><p>The fall in oil prices over the past eight months could have been avoided but for the "stubborn", "self-interested" and "unilateral" approach of some non-Opec producers, Opec said today.</p><p>"There is a stubborn willingness of some non-Opec producers to adopt a go-it-alone attitude, with scant regard for the consequences," the editorial in Opec's latest monthly bulletin said </p><p>"These parties consider producing to the maximum as being the norm. To them, rationalising the development of ones' precious natural resources in keeping with market demands appears to be an alien concept," the Opec secretariat said.</p><p>Addressing the US oil industry, the secretariat said that although tight oil "is a great and welcome addition to the world's potential oil wealth… the timing of its exploitation is certainly questionable".</p><p>Today's statement is the latest in a tit-for-tat exchange over where the blame for the drop in oil prices should be laid. Saudi Arabia has consistently said that a lack of non-Opec co-operation — in particular from Russia and Mexico — was the reason that Opec decided not to lower its agreed output level on 27 November.</p><p>Russian state-controlled Rosneft's chief executive Igor Sechin in February criticised a group of Middle East countries within Opec that is pushing its own agenda and destabilised the market.</p><p>Opec crude production rose to 31.27mn b/d in March, its highest in more than two and a half years, as Saudi Arabia boosted its output to a record high 10.3mn b/d. Russian oil production was 10.64mn b/d last month, official data showed, almost equalling a post-Soviet high of 10.67mn b/d recorded in January.</p><p>Oman oil minister Mohammed al-Rumhy <a href="https://direct.argusmedia.com/newsandanalysis/article/1021835">today said</a> Opec is refusing to reach out to address market oversupply. Many non-Opec producers would have gladly joined a round table to address the issue, he said. </p><p>Opec today called again for concerted, co-ordinated action to address the lower oil price. "In the past, Opec has often shouldered the burden of ensuring oil market stability alone. In the current situation, which should be of great concern to all, is it not time for this burden to be shared?" it said.</p><p>bw/egs</p><p><br> Send comments to <a href="mailto:feedback@argusmedia.com" target="_parent"> feedback@argusmedia.com </a></p><p><u><a href="http://www.argusmedia.com/Info/General/News" target="_TOP"> Request more information </a></u> about Argus' energy and commodity news, data and analysis services. </p><p><i> Copyright © 2015 Argus Media Ltd - <a href="http://www.argusmedia.com/" target="_TOP"> www.argusmedia.com </a> - All rights reserved. </i></p></article>
