OPEC leaves door open for possible quota cuts

12/24/2001
Prospects have improved for another production cut by the Organization of Petroleum Exporting Countries design- ed to bolster oil prices.OPEC officials last week said that energy ministers from member countries would discuss "coordination of the implementation of the organization's decision to reduce output" at an emergency meeting in Cairo Dec. 28.That seemed to indicate OPEC is considering implementing at least some of its proposed 1.5 million b/d rollback of production quotas, even if non-OPEC producers fall short of the 500,000 b/d production cut demanded by the cartel.OPEC's offer to cut output by 1.5 million b/d to tighten supplies and thereby boost sagging oil prices is con...
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