OPEC agreement and its implications

Book · Sat Jan 01 04:00:00 EST 1983

OSTI ID:5872472

Following lengthy and intensive negotiations, OPEC recently reached agreement on new prices and production quotas. Although the agreement has been met by general skepticism, Bankers Trust believes that the chances of defending the new marker price are reasonably good. Saudi willingness to reduce oil production and earnings to shield less financially secure OPEC members from the full impact of production cuts provides added and much-needed strength to the organization. If indeed the OPEC agreement proves successful, product prices in the important US market may have already bottomed out.

• OSTI ID: 5872472
• Report Number(s): NP-3902826; ON: DE83902826
• Country of Publication: United States
• Language: English

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02 PETROLEUM
020700* -- Petroleum-- Economics
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