VOL. XXXIII

NO. 29

23-APRIL-1990

OPEC Envisages Temporary Production Cutback To Redress 2Q Market Decline

After plumbing new depths earlier on, the ailing oil market cheered upconsiderably late last week upon the news that OPEC had decided to convene anurgent meeting, on 2 May in Geneva, of its eight-man Ministerial MonitoringCommittee (MMC), to take measures to arrest the current price decline. At thesame time, the Organization's regular ordinary conference, originallyscheduled to convene in...