No 52

24/31 December 2001


OPEC/Non-OPEC Cuts Of Almost 2MnB/D To Start In January

MEES learnsthat OPEC oil ministers will give the go-ahead for a crude oil output cut of1.5mn b/d beginning 1 January, as announced at their extraordinary meeting on14 November, and that non-OPEC producing countries will also go ahead with areduction of 462,500 b/d for a period of six months starting 1 January until 30June 2002.

OPEC announced on 18 December thatit had scheduled a coordinating meeting...