OPEC PRODUCTION AGREEMENT STILL FACES OBSERVANCE PROBLEMS

With only a short while to go before the opening of the next OPEC conference in Geneva on 6 October, it is clear that OPEC is still facing some serious problems with regard to the implementation of its Current temporary agreement on production limitation. As yet no progress has been made towards solving the problems regarding the UAE and Venezuela which were reported in last week's MEES (22 September).

Despite representations...