OPEC EXPERTS ASSESS IMPACT OF $17-19/B PRICE ON OPEC OIL

If realized, the price target of $17-19/B favored by the OPEC majority would serve to promote reasonable increases in demand for energy and stabilize the share of oil in the total energy mix, while non-OPEC oil production would fall marginally owing to a decline in exploration and development expenditure. As a result, the crude oil production requirement from OPEC (16.378mn b/d in 1985) would be projected to grow from an expected...