VOL. XLII

No 43

25-October-1999

OPEC

Venezuela Says It Has Complied With 2.72Mn B/D Quota Since 1April

Venezuelaç—´ Ministry of Energy and Mines issued an officialstatement on 20 October emphasizing that the country had strictly complied withits OPEC quota of 2.72mn b/d since 1 April this year, when the latest round ofOPEC output cuts commenced. This followed the assumption of power in Venezuelaby the newly-elected pro-OPEC administration of President Hugo Chavez in earlyFebruary. The previous...