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Article: Monitors to focus on OPEC quota busting; Parra letter emphasizes lost oil revenue. (Organization of Petroleum Exporting Countries, Venezuelan oil minister Alirio Parra)
- Article from:
- The Oil Daily
- Article date:
- August 10, 1993
- Author:
CopyrightCOPYRIGHT 1993 Energy Intelligence Group. 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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WASHINGTON -- The three-man market-monitoring committee of the Organization of Petroleum Exporting Countries (OPEC) meets today in Vienna to compare production data from member countries with reports from secondary sources.
Statistics gathered by oil publications and wire services indicate that OPEC members are producing 1 million-1.2 million b/d above the group's official production ceiling of 23.582 million b/d.
In a letter being sent to fellow OPEC oil ministers, Venezuela's oil minister Alirio Parra, former president of the group, asserts they are losing steadily increasing amounts of oil revenue because of overproduction and urges them to abide ...