Middle East Economic Survey
OPECs Angolan Meeting To Face Fundamentals Challenge
OPEC ministers will meet in the Angolan capital, Luanda, on 22 December, to set production policy for the next quarter. The enforced year-long production restraint implemented at its meeting in Oran last December rescued prices from a complete rout. From a four-year low of $38.60/B last December, output cuts agreed in Oran drove OPEC Basket prices up to $60/B plus for the year. Despite...