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Page added on May 21, 2009

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OPEC malcontents challenge oil output targets

With oil rising this week to $62 a barrel from $33 in December, most analysts expect OPEC to stop short of a new cut in output after agreeing to remove 4.2 million barrels per day — 5 percent of world demand — to counter the recession.
That is just as well, because OPEC “malcontents” Venezuela, Angola and Iran are questioning individual supply targets or output figures. Analysts say the issue could complicate any change in overall supply and undermine efforts to present a unified front to the wider world.
Guardian



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