Middle East Economic Survey

VOL. XLVIII

No 36

5-September-2005

OPEC President Proposes 500,000 B/D Ceiling Rise, Saudi Arabia Ready To Lift Output

OPEC President and Kuwaiti Energy Minister Shaikh Ahmad al-Fahd al-Sabah announced on 29 August he would propose that OPEC raise its production ceiling by 500,000 b/d at its scheduled meeting in Vienna on 19 September, in a further effort to bring down high oil prices. Such a move would raise the OPEC-10 ceiling to 28.5mn b/d from the 28mn b/d ceiling...