VOL. XLIII

No. 11

13-March-2000

LETTER TO THE EDITOR

To: The Editor, Middle East Economic Survey (MEES),

Dear Sir,

There is a great deal of speculation as to the outcome of the forthcoming OPEC conference as far as concerns the production restraint observed by OPEC and some non-OPEC exporters over the last year.

A cut-back in the production of these countries of some 7% has allowed a price recovery of approximately 200%. This price rise came at the end of a 20-year downhill slide that began around...