Middle East Economic Survey


No 51-52


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...