Middle East Economic Survey


No 24


OPEC Ministers Set To Consider Proposal To Raise Output Ceiling By 0.5Mn B/D

OPEC ministers are set to consider a proposal at the 15 June meeting in Vienna to raise the OPEC-10 production ceiling by 500,000 b/d as a mainly psychological measure they hope will take the heat out of oil prices, that have risen again above the $50/B level since late May. Speaking on 7 June, OPEC President and Kuwaiti Energy Minister Shaikh Ahmad al-Fahd...