No. 18



OPEC Firmness On Price Band Policy Triggers Crude Price Surge

Crude oil market analysts have begun to speculate about whether or not OPEC will raise output at its extraordinary ministerial meeting on 5 June, but Saudi Arabias reaffirmation that the organization would adhere to its price band policy gave a boost to oil prices. On 25 April Saudi Arabias Oil Minister Ali al-Naimi told a Paris conference, "our aim is to keep the market well supplied and prices at...