OPEC has world over a barrel again

  • 08/12/1999

On Sunday, OPEC ministers will meet at OPEC headquarters in Vienna to consider a request from oil importing countries to boost daily oil output by at least 500,000 barrels. But it may be too late. With the East Asian economies, including that of China, booming again, and with U.S. oil production falling for eight years in a row, even a production increase of 500,000 barrels may not restore lower oil prices.