OPEC AGREES TO EXTEND OIL PRODUCTION QUOTA FOR 1994
Organization of Petroleum Exporting Countries ministers have agreed to maintain the group's present 24.52 million b/d oil production ceiling for the rest of 1994. Lindsay Home, executive director, energy derivatives, Lehman Bros. Ltd., London, said the Saudi delegation put its spin on the agreement by insisting on the extension. "But if the agreement is going to last, why are OPEC ministers expecting to meet as usual in June?" he asked.