ADJUSTMENT OF ARABIAN LIGHT PRICE SEEN AS KEY TO OPEC AGREEMENT ON CREDIBLE DIFFERENTIALS STRUCTURE

As the OPEC Ministers prepare for yet another attempt to solve the thorny but vital problem of price differentials at their 28 January meeting in Geneva, it is clear that some downward adjustment of the $29/B Arabian Light marker price is the key to any credible OPEC agreement on a much-needed new structure for differentials. It is also clear that if this path continues to be blocked by those...