OPEC FOCUSES ON MARKET DISCIPLINE

MEES Executive Editor Ian Seymour Reports from Vienna 5 July

As the OPEC ministerial meeting gets under way in Vienna on 5 July, the indications are that the focus will be on the pressing need to restore the Organization's market discipline and credibility with regard to oil production and pricing. However, at its first session on Friday morning the meeting also discussed a far-reaching proposal that, given the current deterioration of the market, the...