OGJ NEWSLETTER

The latest OPEC quota accord is just an exercise in damage control unlikely to sustain a price recovery. That's the view of London's Centre for Global Energy Studies (CGES). It contends oil prices will remain susceptible to downward pressure from weak demand, high stocks, and rising North Sea oil production. Further revenue declines will test members' commitment to quotas and could undermine the accord, which set a group ceiling of 24.52 million b/d for fourth quarter 1993 and