VOL. XXXII

NO. 2

17-OCTOBER-1988

OPEC Needs Volume Growth to Survive, Says Parra

"OPEC cannot survive much longer as a market manager without sustainedvolume growth." This was the verdict delivered by Dr. Alirio Parra ofPetroleos de Venezuela in a presentation to the International Herald Tribune/OilDaily "Oil and Money" Conference in London on 13 October.

Dr. Parra points out that the combination of lower prices and low volumes isbecoming "intolerable" for OPEC, and goes on to comment: "Thereis a...