VOL. XLVI

No 49

8-December-2003

OPEC

OPEC Leaves Quotas On Hold But Action To Cut Supplies Likely In Early 2004

Walid Khadduri and Bill Farren-Price report from OPECs 128th Ministerial Conference in Vienna.

As expected, OPEC ministers left production quotas unchanged at their extraordinary meeting in Vienna on 4 December, but pledged to review the market in early February with a view to cutting production to remove an anticipated supply overhang in the second quarter of 2004 (MEES, 1...