VOL. XLVII

No 10

08-March-2004

Text Box: Contents Include:   ENERGY (A)   Alternatives To Bosphorus Exports, 3 Iraq Upstream Outlook, 9 Kirkuk To Be Sold On Tender Basis, 11 Saudi April Crude Prices, 12 Poten On Ethanol, 15 Tomen Turns Down Azadegan Stake, 16 Sohar Aluminium Gets Green Light, 18 Total Gets 26% Hazira LNG, 19 Bahrain Hosts GEO 2004 Conference, 20         FINANCE (B)   RasGas Bond Attracts US Interest, 1 Middle East Bond Roundup, 2 Iran Approves 2004-05 Budget, 5 IGC Investigates Oil-For-Food Graft, 7 Donors Release $1Bn To Iraq Fund, 8       POLITICS (C)   Iraq’s Interim Constitution, 1 Shi'a Shrines Attacked, 1       OP ED & DOCUMENTS (D)   Desta On OPEC And WTO, 1 Walther On Producer-Consumer Relations, 5  

OPEC

OPEC To Scale Back Output Cut, Reflecting High Price Pressures

OPEC remains committed to implementing a cut in oil production in April, but sustained high oil prices mean that the group has scaled back plans for the 2.5mn b/d reduction envisaged at the Algiers meeting on 10 February, MEES soundings indicate. The new planned cut aims to bring OPEC-10 (OPEC without Iraq) production levels down by 1.5mn b/d from around 26mn b/d in March to 24.5mn b/d in April,...