VOL. XLVII

No 01

5-January-2004

OPEC

Crude Prices Remain High As OPEC Price Mechanism Deadline Passes

MEES learns that OPEC is not expected to make a decision about production quotas this week, deferring the issue until the extraordinary general meeting in Algiers on 10 February. The option to trigger a decision based on the organizations $22-28/B price band mechanism is intended for use in normal market circumstances. In this case, however, OPEC is already producing about 800,000-900,000 b/d over...