VOL. XXXII

NO. 5

7-NOVEMBER-1988

YAMANI REVIEWS WORLD OIL SCENE

(There follows a resume of a luncheon address given by the former SaudiArabian Minister of Petroleum and Mineral Resources, Shaikh Ahmad Zaki Yamani,at the 'Oil and Gas: Strategies for 1989" conference in Toronto on 3November.)

The Background

In 1985 OPEC's share of the market reached an intolerably low point - some 15mn b/d as compared with 31mn b/d in 1979. At that time the OPEC producers started to cheat on their production quotas...