VOL. XLV

No 45

11-November-2002

OPEC

Lukman And Silva Outline OPECs View Of Oil Market

With crude oil prices falling last week as markets reacted bearishly to reports of OPEC overproduction, OPECs two most senior officials warned all producers that excessive oversupply could have a destabilizing effect on the industry. Both Rilwanu Lukman, OPEC President and Nigerian Presidential Adviser on Petroleum and Energy, and OPEC Secretary-General Alvaro Silva, cited the organizations current policy of...