LONDON (Thomson Financial) - OPEC may be tempted to lower its oil production
to maintain revenues for its member states, the Centre For Global Energy Studies
said in its monthly oil report.
But such a decision would slow global economic growth, the CGES' analysts
said.
Opec's oil ministers will face a difficult decision at their next meeting
scheduled for Feb 1 in Vienna, the report said.
While US President George W Bush and other leaders of oil-consuming
countries are asking OPEC oil ministers to produce more, there is a danger they
might turn in the opposite direction and reduce production, the CGES said.
OPEC members have become dependent on the higher oil revenues of recent
years and may attempt to keep them at the current level by reducing production
to keep prices high, it added.
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