NO. 4


OPEC & Supply/Demand

Venezuela Outlines Oil Expansion Plans

Mr. Andres Sosa Pietri, President of Petroleos de Venezuela S.A., outlinedVenezuela's expansion program for the 1990s and beyond in a paper he presentedto the Oil and Money Conference held in London on 18-19 October. Mr. Pietri saidthe plans had been drawn up prior to the Gulf crisis and that Venezuela couldnow carry on with its plans and programs without "the straitjacket of thequota," which OPEC...