No. 23



OPEC Rollover Expected As Market Balancing Continues

In the build-up to the OPEC extraordinary meeting in Vienna 5-6 June, ministers were widely predicted to decide on a rollover of current production quotas, although a study of third and fourth quarter demand forecasts will figure high on the agenda. Last week crude prices were held up by fears over Iraqi supply disruptions, with further evidence of US gasoline stockbuilding acting as a dampening force. This...