Impact
Waiting for OPEC's move...
EXACTLY a year to the month when the Organisation of Petroleum Exporting Countries (OPEC) decided to cut back production by up to five million barrels per day (mbpd), oil prices have gone past the psychological barrier of $30 per barrel. The last year, s ince March 1999, has seen a trebling of prices from around $10 per barrel, aided by a surprisingly strong adherence to output cuts by the ten members of the OPEC. Compliance levels in this period have been estimated to be in the region of 75 per cent, wh ich is exceptional by OPEC standards.

Page One | Index | Home