12.03.2009 - OPEC to focus on compliance, not cut output
From Pennnet.com: Analysts at the Centre for Global Energy Studies (CGES), London, said in Mar. 11 research note that although oil prices are far from the $75/bbl that Saudi Arabia's King Abdullah suggested was a 'fair' price prior to the Cairo meeting last November, the Organization of Petroleum Exporting Countries will not cut further its output target when it meets Mar. 15. Instead, the organization will focus on compliance with the 4.2 million b/d of cuts to which it agreed last year, CGES said. Those cuts so far have stabilized oil at about 40/bbl, and full compliance should be enough to set oil prices on a gently rising path..... Full Article: Source
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