OPEC DIFFERENTIALS: ONLY A FIRST STEP

MEES Executive Editor Ian Seymour Reports on the Conclusion of OPEC's Geneva Conference, 27-29 December After the resounding success of its agreement on 28 December on far-reaching measures to police production and price discipline in member states (MEES, 31 December), OPEC's half-way-house decision on differentials the following day came as somewhat of a disappointment. If the price/production monitoring agreement had been followed by a...