Middle East Economic Survey

VOL. XLVII

No 38

20-September-2004

OPEC

OPEC Sustains High Production Profile To Ease Price Pressure

Walid Khadduri and Gerald Butt of MEES report from Vienna.

There were two clear messages that emanated from the twice-yearly ordinary meeting of the OPEC Conference held in Vienna on 15 September. The first was that the organization will continue to maintain its maximum production policy until oil prices ease to a more sustainable level. Current production has risen to a...