VOL. XLIV

No 31

30-July-2001

OPEC

OPEC PressRelease

The following is thecommuniqué issued by the OPEC Conference on 25 July in Vienna:

Agreement ofthe OPEC Conference

Considering the impact of the slowing world economyon oil demand, and the relatively strong build-up of oil stocks, OPECsobjectives are to ensure market stability, satisfy world demand and avoid oilprice volatility, in the interest of both producers and consumers. In order toachieve these objectives, OPEC has decided to reduce...