Middle East Economic Survey


No 38


OPEC Comfortable With Current Prices

OPEC is aware of the market issues of high stocks and poor compliance but nevertheless is comfortable with prices, currently in the $70-80/B range, the groups Secretary-General 'Abd Allah al-Badri told reporters at a 14 September press conference to mark OPECs creation.

We are not really having good [quota] compliance. Last month it was 53%. But it is not having an impact on prices, Mr Badri said. We see...