VOL. XLVII

No 19

10-May-2004

OPEC

OPEC Has Little Room To Maneuver As Oil Prices Continue To Rise

The rise of crude oil prices to around $40/B caused by surging US gasoline prices and escalating violence in the Middle East has led to fresh calls for OPEC action to increase oil production. However, with OPEC producers aside from Saudi Arabia and UAE producing at close to capacity, there is little prospect that the organization can do much more than bring some much-needed clarity to its recent...