NO. 51



No Sign of Let Up in OPEC Production Drive

As the five members of the OPEC price committee - the Oil Ministers ofNigeria, Indonesia, Saudi Arabia, Venezuela and Algeria - prepare to meet inMadrid on 25 September, there is as yet no sign of any let-up in the currentspate of over-quota production by OPEC exporters. In fact, it looks as thoughOPEC crude output in October is likely to maintain much the same high rate as itregistered in August and September....