No 16



Oil Summit Highlights OPECs Quota Dilemma

OPEC is producing at near to full capacity to calm market supply fears, yet refiners are reluctant to buy more crude than they need immediately despite minimal inventories because of steep price backwardation. This is the dilemma facing OPEC ministers ahead of their extraordinary meeting in Vienna on 24 April. This was also the main theme emerging from the Fourth International Oil Summit in Paris on 10 April, organized by...