NO. 17

27 JANUARY 1992

OPEC's Ad Hoc Cutbacks May Be Pointer To Serious Action At 12 FebruaryGeneva Meeting

OPEC's recent campaign to put together ad hoc voluntary production cuts - sofar eliciting pledges totaling around 400,000 b/d from nine member countries -has clearly not made very much positive impression on the market. As is oftenthe case in such circumstances, the OPEC cutback undertakings are sadlylacking in transparency and precision. Nevertheless, they may have played a part...