Middle East Economic Survey

VOL. LII

No 17

27-Apr-2009

OPEC

OPEC Concerned Over Compliance

Compliance with production targets announced at OPECs 17 December meeting in Algeria remains a concern despite recent improvements in OPEC Basket crude prices, an OPEC delegate tellsMEES. Compliance is not as good as it could be, the delegate said. There are three countries Iran, Angola and Nigeria that are not properly complying. The rest are at or near their quota. Frankly there is oversupply and a stock...