VOL. XXX1

NO. 47

29-AUGUST-1988

OPEC OVERPRODUCTION REPORTS CAST SHADOWS OVER EFFORTS TO RESTORE VOLUMEDISCIPLINE

After a few weeks of doldrums, during which crude oil prices have been weaklyoscillating in a narrow band with Brent around $15/B and Gulf crudes $1.50/B orso below that, it now looks as though the price outlook may be gettingdistinctly more bearish under the impact of ever more alarmist reports aboutOPEC overproduction. And these reports are not the product of media myth-making.Some...