VOL. XLIII

No. 43

23-OCTOBER-2000

OPEC

OPEC Poised To Trigger Price Control Mechanism

OPEC is ready to deploy its price control mechanism if the price of the OPEC basket of crudes does not fall below $28/B before 27 October, MEES learns. This date would be the 20th consecutive trading day on which prices have been above $28/B, a condition for OPEC to increase production by a combined 500,000 b/d on a pro-rata basis under a market-damping mechanism agreed to by OPEC member states.

However, there is...