NO. 36


Credibility On Quota Observance Will Be Key To Satisfactory OPEC AgreementIn Geneva

As far as the market is concerned, there seems to be a general feeling ofoptimism that OPEC will succeed in giving the right sort of signals at its 8June Geneva conference by confining its third-quarter production ceiling to24.2mn b/d or below. This would allow plenty of room for widely anticipatedover-quota output to be absorbed by the market's likely propensity for asubstantial...