VOL. XLVII
No 14
05-April-2004
OPEC
OPEC Confirms 1Mn B/D Oil Output Cut To Preempt Excessive 2Q Stock Build
Walid Khadduri and Bill Farren-Price of MEES report from Vienna.
OPEC ministers confirmed their decision to cut output for the OPEC-10 (OPEC without Iraq) by 1mn b/d to 23.5mn b/d as of 1 April at their ordinary ministerial meeting on 31 March in Vienna, despite oil prices that have remained for the most part stubbornly above $30/B since late 2003. In their communiqué, ministers said that...
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