VOL. XLV

No 50

16-December-2002

OPEC

OPEC Raises Quota Ceiling By 1.3Mn B/D But Envisages Simultaneous Substantial Cut In Actual Output

Ian Seymour and Walid Khadduri of MEES Report on the Outcome of OPECs Ministerial Conference in Vienna on 12 December.

Meeting in Vienna on 12 December, the OPEC Oil Ministers hit upon a novel approach towards solving their deepening problem regarding the maintenance of supply/demand balance and price stability at target levels in the face of mounting over-quota...