SECOND QUARTER PRICE STABILITY WILL DEPEND ON OPEC ADHERENCE TO 16MN B/D OUTPUT CEILING

Following a relatively successful first quarter in which, after a shaky start, market prices for crude oil regained a reasonable degree of stability, OPEC now faces the testing time of an uncertain second quarter. Much, of course, will depend on how far the seasonal drop in demand is offset by a possible second-quarter stockbuild after the fairly substantial first-quarter drawdown, but the general...