NO. 1


OPEC Secretariat Proposal

OPEC Secretariat Proposal for Quota Allocation (There follows the text of aproposal prepared by the OPEC Secretariat and submitted to the recent meeting ofOPEC's Market Monitoring Committee in Geneva, for the allocation of quotas underfuture increments in the OPEC ceiling. The Secretariat proposes that futurequota increases should be allocated on the basis of (1) excess productioncapacity, or (2) the difference between the present...