VOL. XLVI

No 30

28-July-2003

OPEC

OPEC Unlikely To Change Output Quotas

The fall in oil prices over the last week has seen the OPEC basket price fall back to within the organizations preferred $22-28/B price band and as a consequence, OPEC ministers are now thought unlikely to feel any pressure to change production targets at their upcoming extraordinary meeting in Vienna on 31 July. After ten weeks of gently rising oil prices, this weeks market readjustment comes at just the right time for OPEC...