VOL. XXXIII

NO. 32

14-MAY-1990

Market Strengthens On News Of OPEC Cutbacks

The crude oil market has strengthened significantly, by more than $1/B overthe past week, in the wake of a barrage of news about actual and impendingoutput cutbacks by OPEC producers - even though the precise extent of thesereductions cannot yet be accurately assessed.

What follows is an effort to evaluate the cutback measures which are beingtaken by the main OPEC players:

- For its part, Saudi Arabia has taken prompt and...