OPEC AND OIL PRICES

Subroto Favors Maintenance of Current Ceiling after October 

Indonesia's Oil Minister, Dr. Subroto, has come out in favor of the maintenance of the current OPEC ceiling of around 16.8mn b/d when the temporary production agreement expires at the end of October. However, he did concede that there was a possibility that OPEC could raise its production ceiling to around 17.5mn b/d. Dr. Subroto expects demand for OPEC crude to rise to about 17.5mn b/d during the...