VOL. XXXIII

NO. 34

28-MAY-1990

OPEC Keeps Cool In Face Of Market Downturn

So far at least OPEC is keeping a cool head in the face of the sharp downturnwhich struck the crude oil market in the middle of last week. A generalwait-and-see attitude seems likely on the OPEC front for the next few weeks togive the 2 May Geneva agreement another chance to prove itself before alarmbells start to ring for further action in the event that serious price erosionpersists.

Meanwhile, in the wake of market...