OGJ Newsletter

Click here to enlarge imagenullAs was widely predicted, OPEC oil ministers voted in Vienna last week to maintain their current production restraints until March 2000.Although the meeting had not concluded as OGJ went to press, OPEC issued an interim statement late on Sept. 22 saying it is satisfied with members' adherence to production quotas but that there is room for further improvement: "Given the remaining high levels of stocks, OPEC member countries have reaffirmed their strong commitment to the agreement reached in March 1999 until at least the end of March 2000, at which time market conditions will be reviewed and a decision taken that will ensure continued market stability."...

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