OPEC MEC Resolution

(The following is the text of OPEC Resolution LXXII/251 - adopted by the 26 December Conference in Geneva - setting up the Ministerial Executive Council (MEC) to supervise and maintain internal discipline on production and prices).

In view of the necessity to provide complete internal transparency of information concerning Member Countries' petroleum sales, as a means to enhance credibility of implementing OPEC's decisions, it is decided that OPEC establishes a...