TOUGH GOING FOR OPEC IN GENEVA

MEES Editor Ian Seymour Reports from Geneva on the Progress of the OPEC Conference, 1 August

With no agreement in sight on new quotas and as yet no firm commitment on a stop-gap deal which would take at least some oil out of the present glutted market, the outlook for OPEC here in Geneva appeared none too bright at MEES press time on Friday afternoon.

One thing is already indisputably clear: there is not the remotest chance of achieving an overall accord on...