OGJ Newsletter

08/30/1999
Is there a change in the wind regarding how OPEC will manage production in response to oil price changes?OPEC Pres. Yousef Yousfi has proposed an OPEC summit meeting, ahead of the scheduled ministerial meeting Sept. 22 in Vienna, of a committee set up to determine policy options on how to maintain oil price gains and secure future price stability, as well as ways to accommodate potential increases in production capacity, says Middle East Economic Survey.One proposal has already been floated by Venezuelan Energy and Mines Minister Alí Rodríguez: creating a mechanism whereby producers would adjust supply up or down whenever oil prices moved outside a chosen price band. While s...
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