OPEC frets as the gains go elsewhere. (Organization of Petroleum Exporting Countries)(MEED Special Report: Oil & Gas)

MEED Middle East Economic Digest | July 21, 1995| | Copyright

After a desultory meeting in June, OPEC oil ministers have five months to come up with a strategy for 1996. The message taken away from their mid-year session was that OPEC wasn't sure where it is going next. By the time they journey to Vienna again in November, ministers will hope to have a scheme ready for stopping the inexorable rise of non-OPEC output, which is now their main concern.

The grand plan for this year was to freeze quotas and try to take some of the volatility out of the oil market by making it easier to predict supply. The strategy may have succeeded in ...

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