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Article: TUNISIA - The Global Petroleum Perspective.
- Article from:
- APS Review Oil Market Trends
- Article date:
- April 12, 2004
CopyrightCOPYRIGHT 2004 Input Solutions. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The markets on both sides of Suez have not been convinced by OPEC's March 31 decision to cut the group's official output ceiling to 23.5m b/d from April 1, in line with a ministerial meeting held in Algiers on Feb. 10. As a result, oil prices have since kept rising on strong demand in the US and China.
When they met in Vienna on March 31, most of OPEC's oil ministers were still worried that world oil demand in the second quarters was going to fall steeply. As oil prices resumed their hike a few days later and after pressure from the Bush administration, Saudi Arabia's Ambassador to Washington paid a visit to the White House and later told reporters the kingdom ...