OPEC SURMOUNTS PRICE DIFFERENTIALS HURDLE BUT MAJOR PROBLEMS REMAIN

MEES Executive Editor Ian Seymour Reports on OPEC's Geneva Conference, 22-25 July

On the face of it, the modest reduction in the official prices of heavy and medium crudes within the context of differential adjustment, combined with the postponement of discussion and action on most of the really crucial problems facing the oil exporters' Organization, would seem to be a rather meager harvest from a long and...