OPEC sets automatic oil output adjustments

In addition to agreeing to an immediate increase in oil production at their recent summit in Vienna, members of the Organization of Petroleum Exporting Countries also agreed to an oil price stabilization mechanism. Meanwhile, some non-OPEC members have announced production increases of their own.Ali Rodriguez, Venezuela's energy minister, said nine OPEC nations, in addition to agreeing to increase production by 1.45 million b/d, also agreed to automatic production adjustments (OGJ, Apr. 3, 2000, p. 26). He said OPEC will raise output when the export price of OPEC's basket of crudes exceeds $28/bbl and lower it when it falls below $22.If oil prices shift outside the fixed price-ban...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected