VOL. XLIV

No. 29

16-July-2001

OPEC

OPEC Must Produce Extra 1.5MnB/D In Fourth Quarter As Economy Recovers, Says JP Morgan

The call on OPEC crude in thefourth quarter will be 29.3mn b/d if global inventories in terms of days offorward demand are to be kept constant year-on-year, according to JP Morgan. Inthe Oil Market report of 5 July, PaulHorsnell, JP Morgans Head of Economic and Policy Research, writes that toachieve this within scheduled meetings, OPEC would have to raise production by1.5mn...