VOL. XXXVIIINO. 928-NOVEMBER-1994

OPEC

OPEC's Production Capacity Victim Of Lower Oil Prices, Says PIRA

The worsening financial situation in the OPEC countries during the past fewyears has forced many changes in the oil-exporting countries, not least of whichis upstream cost cutting and its long-term impact on the countries' productioncapacity, according to a study prepared by the New York-based Petroleum IndustryResearch Associates Inc. (PIRA) entitled "OPEC's Revenue Problem."

The PIRA study...