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03/11/2002
Market MovementOPEC heads meet with RussiaGlobal oil prices continued their bullish run last week amid speculation that Russia will continue its oil production cut of 150,000 b/d through June.Alí Rodríguez Araque, Organization of Petro- leum Exporting Countries secretary general, visited Russia early last week along with OPEC Pres. Rilwanu Lukman to urge the country to extend its production cuts beyond the first quarter. Rodríguez said that Russia's stance would influence OPEC members' decision to continue their own supply restrictions. OPEC ministers are due to meet Mar. 15 to discuss maintaining their production cuts through the second quarter. Russia is one...
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