VOL. XXXVII

NO. 5

1-NOVEMBER-1993

Renewed Price Collapse Staggers OPEC Producers

Only a month ago OPEC Ministers were congratulating themselves on havingreached a solid agreement on oil production quotas at their Geneva meeting,which was designed to last for the coming six months with the expectation of asignificant improvement in prices. The initial reaction of the market wasfavorable and prices rose by almost a dollar and a half. Now, however, after asharp fall over the past week, crude prices...