Middle East Economic Survey
Venezuela Proposes Raising OPEC Price Band
Venezuela has formally requested OPEC to consider revising upwards its official target oil price band of $22-28/B for OPEC Basket crude. MEES learns that the request has been referred to the organizations Long-Term Strategy Committee, which reports to the ministers periodically. The committee reviewed the subject at the extraordinary ministerial meeting in Beirut on 3 June (MEES, 7 June), and may...