VOL. XLIV

No. 05

29-January-2001

OPEC

OPEC Producers Confirm Details Of Supply Cuts

Following the OPEC decision to cut output quotas bya total 1.5mn b/d from 1 February (MEES, 22 January), state companies have been informing customers of their planned reductions in deliveries. Saudi Aramco announced its intention even before the OPEC extraordinary ministerial meeting on 17 January, reducing deliveries to western customers by up to 20% and to Asian customers by 10-15% (MEES, 15 January).

Other OPEC...