JAKARTA (AFX-ASIA) – Members of the Organisation of Petroleum Exporting Countries (OPEC) may exceed their oil production quotas due to high world oil prices despite an agreement to cut output, said OPEC president Purnomo Yusgiantoro. “OPEC members are still producing above their quota because oil prices are still high,” he told reporters. He said the…
MARKETS: OPEC chief says members allowed to over-produce despite cut in quota
Posted on April 19, 2004 by EnergyAsia