VOL. XXXVI

NO. 20

15-FEBRUARY-1993

OPEC Faces Tough Task In Vienna

Despite the general OPEC-wide consensus that crude oil production must bereduced substantially as from March if any kind of acceptable price level is tobe sustained in the low-demand second quarter, it is clear that the OPEC OilMinisters will be facing a very tough task when they meet in Vienna on 13February.

For one thing, even the production cutback agreement reached last November tocover the first quarter of 1993 is manifestly...