OPEC reports highlight confusion in energy news

09/27/2004
Here's a public-education challenge for the oil and gas industry: Teach journalists the difference between production quotas set by the Organization of Petroleum Exporting Countries and actual production.When OPEC raises or lowers its quotas, many news agencies report that it has raised or lowered production.It happened again Sept. 15. OPEC ministers in Vienna lifted the collective quota for members other than Iraq to 27 million b/d, effective Nov. 1, from 26 million b/d (OGJ Online, Sept. 15, 2004). And news agencies reported that OPEC was raising production by 1 million b/d—not all of them, of course, but enough to spread confusion.As misreported, the story seems to be that oi...
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