OPEC ENDORSES WATCHDOG BODY TO MONITOR PRICE AND PRODUCTION DISCIPLINE
MEES Executive Editor Ian Seymour Reports from Geneva, 28 December
Following the necessary approval by all 13 member governments, OPEC has now formally endorsed its plan to set up a powerful watchdog body to maintain price and production discipline among member states. The new body, known as the Ministerial Executive Council (MEC), will consist of five OPEC Oil Ministers under the Chairmanship of Shaikh Ahmad Zaki...
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