VOL. XXXVI

NO. 48

30-AUGUST-1993

OPEC

OPEC Needs More Realistic Quota System

According to the latest (16 August) issue of the Monthly Oil Report publishedby the London-based Centre for Global Energy Studies (CGES), recent events haveillustrated the inherent weakness of OPEC's June decision to roll over theFebruary quotas during a period when the need for OPEC oil was bound to exceedthe quota total. Prices have fallen heavily owing to OPEC's inability to tailorits output to match demand more...