Middle East Economic Survey
VOL. XLVII
No 28
12-July-2004
Naimi Reiterates Commitment To Price Band, Says August Ceiling Hike Already Agreed
The extraordinary OPEC meeting planned for 21 July in Vienna will focus on assessing oil market conditions and will not revisit the 3 June decision to increase the groups output ceiling, according to Saudi Oil Minister Ali Naimi. Speaking by phone to MEES on 6 July, Mr Naimi said that the decision to raise the OPEC-10 output ceiling by 2mn b/d to 25.5mn b/d...
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