VOL. XXXI

NO. 18

8-FEBRUARY-1988

OPEC AND OIL PRICES

Lukman Says OPEC Output Is below Ceiling

According to the OPEC Conference President, Nigerian Oil Minister RilwanuLukman, the key to the success of OPEC's December agreement is volume restraintrather than rigid adherence to official prices, and the OPEC members, byproducing less than the 15.06mn b/d ceiling, are currently forcing a major stockdrawdown in the consuming countries.

Speaking on 2 February to the World Economic Forum in Davos,...