Middle East Economic Survey

VOL. XLVIII

No 39

26-September-2005

OPEC Rebuffs Political Criticism With 2Mn B/D Spare Capacity Pledge

Bill Farren-Price reports from Vienna.

OPEC oil ministers meeting in Vienna on 20 September offered consumers 2mn b/d of spare oil production capacity from 1 October for three months as a token of the organizations commitment to market stability and as a direct rebuff to the rising tide of criticism from consumer countries in recent days (MEES, 19 September). With...