VOL. XLVII
No 10
08-March-2004
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,...
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