VOL. XLIII
No. 04
24-January-2000
OPEC
Prices Rise Sharply Following OPECs MMC Recommendation To Extend Production Cuts Beyond 1Q; Richardson Expresses Concern
On 14 January OPECs ministerial monitoring committee (MMC) recommended the extension of the production cut agreement beyond the end-March deadline. The MMC decision, along with similar previous statements by major oil producers, pushed prices to new highs, with NYMEX reaching $29/B. MEES soundings indicate that, as things stand, a...
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