Middle East Economic Survey

VOL. XLVIII

No 15

11-April-2005

OPEC Ministers To Implement Second Stage Hike If Price Uptrend Continues

OPEC President and Kuwaiti Energy Minister Shaikh Ahmad al-Fahd al-Sabah said on 4 April that discussions between ministers within the organization had started on a possible second 500,000 b/d output ceiling increase and that a decision would likely be taken within the next 10 days leading to a technical raise in the OPEC-10 ceiling to 28mn b/d from 1 May. However,...