OPEC/NON-OPEC REACH BROAD UNDERSTANDING ON PRICES AND MARKET STABILIZATION BUT OPEC REMAINS DIVIDED ON PRODUCTION

MEES Executive Editor Ian Seymour Reports from Geneva

Despite the achievement of an encouraging memorandum of understanding on prices and market stabilization objectives between OPEC and five non-OPEC oil exporting countries on Friday evening (21 March), there was no sign whatever of any agreement within the OPEC camp itself when MEES went to press at the weekend. On Saturday...