VOL. XLIII

No. 38

18-September-2000

OPEC

OPEC Statement On Oil Market Situation

The following is the text of the statement on the oil market situation issued by the OPEC Secretariat on 14 September:

During the course of the current year, crude oil prices have climbed to levels not seen for some years, giving rise for concern on the part of both producers and consumers. Undoubtedly, unreasonably high oil prices are of long-term benefit to neither. It was in response to this overheating of prices...