VOL. XLI

No. 23

8-June-1998

OPEC

New Round Of Producers' Output Cuts Should Help Tighten Oil MarketIn Second-Half 1998

Faced with persistent price weakness, the core group of three OPEC and non-OPEC oilproducers who spearheaded last March's Riyadh and Vienna output cutback agreements havenow set the scene for a second round of supply reductions. Meeting for secret talks inAmsterdam on 4 June, Oil Ministers of the three countries concerned - Saudi Arabia,Venezuela and Mexico - agreed to make,...