VOL. XXXIV

NO. 36

10-JUNE-1991

Supply/Demand

IEA Welcomes Contacts with Oil Producers But Insists Production and PriceDetermination Must Be Left to Market Forces

Meeting at ministerial level in Paris on 3 June, the Governing Board of theInternational Energy Agency (IEA) welcomed the development of contacts with oilproducing countries, but reaffirmed that oil production volumes and pricedetermination should be left to market forces. In this connection, the IEAcommunique had the following to say:

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