NO. 39



$18/B Reference Price to Remain until Year End, Says Ginandjar

OPEC is expected to keep its $18/B reference price for the rest of the year,but to increase its production ceiling to around 20mn b/d in the fourth quarter,according to Mr. Ginandjar Kartasasmita, the Indonesian Mines and EnergyMinister. He told Reuters on 26 July "I think we are happy with $18/B. Thatis what we agreed in June and I don't think we will change it inSeptember." As for the production...