VOL. XLVI

No 39

29-September-2003

OPEC

OPEC Preempts Potential Stockbuild With Surprise 900,000 B/D Oil Supply Cut

Walid Khadduri and Bill Farren-Price of MEES report on the scheduled 127th meeting of the OPEC Conference in Vienna.

OPEC ministers agreed to cut oil production by 900,000 b/d at their scheduled 24 September conference in a surprise move aimed at preempting a potential contra-seasonal stockbuild in the fourth quarter and maintaining prices in the top half of the OPEC $22-28/B price...