Rodríguez: OPEC faces new challenges

The formation of the Organization of Petroleum Exporting Countries in 1960 was one of the great ground-breaking events of the last century, but the organization today is faced with a series of new challenges, says OPEC conference Pres. Alí Rodríguez Araque. Speaking in Caracas a few days before the recent OPEC ministerial meeting, the minister expressed his views on the past, present, and future of the organization. The OPEC meeting concluded June 21 in Vienna with an agreement to increase production by 708,000 b/d, a measure deemed inadequate by US officials as a means to cool white-hot gasoline prices in the US (see related story, p. 25, and OGJ Newsletter, June 26, 2000, ...

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