VOL. XLII

No. 04

25-January-1999

OPEC

A New Direction In Venezuela

The new Venezuelan administration, headed by President ElectHugo Chavez who takes office on 2 February, will "bring a new style topetroleum matters," and "it is almost certain that more emphasis willbe placed on prices than on volume in the coming years," according to anarticle appearing in the latest (November-December 1998) issue of Global OilReport published by the London-based Centre for Global Energy Studies. Anextract from...