OPEC'S FAILURE TO AGREE ON QUOTAS CASTS DEEP SHADOW OVER OIL MARKETS

MEES Executive Editor Ian Seymour Reports on OPEC's Failure to Agree on Ouotas

As predicted in last week's MEES, OPEC's marathon 16-24 March Conference in Geneva finally fizzled out in total failure to agree on the quota division of a targeted second quarter ceiling of 14mn b/d, or even a modified version of 14.5mn b/d. A remarkably terse communique (see pageAl9) noted only that the meetings of the...