VOL. XLI
No. 24
15-June-1998
OPEC
Doom And Gloom Pervades The Oil Market Despite SupplyCutback Efforts By Producers
Amid a renewed slide in oil prices in the face of global oversupply and brimmingstocks, hard-pressed producing countries may derive at least a crumb of comfort from themodest decline registered in total OPEC crude production for May, indicating a modicum ofimprovement in compliance with the April round of output cuts. According to MEES estimates(see table below), OPEC production...
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