Middle East Economic Survey

VOL. LI

No 48

01-Dec-2008

OPEC CONFERENCE/OPEC

OPEC Eyes Further Oil Supply Cuts

OPEC ministers arrived in Cairo for their 29 November emergency meeting amid mounting evidence of collapsing demand. The question is not whether they will cut, but when. Most members have indicated that if they dont slash output in Cairo then they will three weeks later when they meet formally in Algeria on 17 December. An early announcement would have the virtue of producers being able to...