VOL. XXX

NO. 19

16 FEBRUARY 1987

MARKET DOWNTURN MAY TEST OPEC PRICE STRUCTURE

Despite the reaffirmation of confidence in the OPEC price and productionagreement enunciated by the Gulf Ministers (see story below), the market omensover the past week have not been very favorable. The spot price of North SeaBrent crude declined by a further 50 cents to around $17.50/B last week whichis about $1.50/B lower than would be required to enable the OPEC fixed-pricestructure to operate in full security and...