Opec tipped to boost oil supply

24.08.2000 -

CARACAS - Venezuelan officials expect the Opec oil cartel to come under pressure to lift supply at its policy meeting next month, to cool prices that are the highest in a decade.

An increase of 500,000 barrels a day, equivalent to 2 per cent of Opec output, would not surprise the international oil market as it will be automatically triggered by Opec's price band mechanism if prices stay above its $US22-$28 a barrel target range

http://www.nzherald.co.nz/storydisplay.cfm?storyID=148813&thesection=business&thesubsection=

-- Martin Thompson (mthom1927@aol.com), August 24, 2000

Answers

I find the NZ and Aussie wording fascinating. As far as that 500,000 barrel story I don't believe it a bit. This story has been floating around for some time now.

Think Just in time delivery. It made Wal-Mart what it is today.

-- Martin Thompson (mthom1927@aol.com), August 24, 2000.