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ISSUES....
Inside, confidential, off the record

OPEC's pragmatics

The markets prepared themselves for the upcoming OPEC meeting in Vienna. We suspect that the outcome is already decided: there will be no major changes, with OPEC holding its quotas at the present level. OPEC's President, Algeria's Energy Minister, Mr. Chakib Khelil, said the cartel will not consider increasing production at its official meeting tomorrow. He was supported by Kuwait's acting oil minister, Mohammad al-Olaim, and by Libya's acting oil minister, Mr. Chukri Ghanem, who said the OPEC countries were obviously concerned about the world economy but were unlikely to change their production policies.

-Dennis Garthman/The Gartman Letter/ 03 04 08

- For more on interesting comments, you can subscribe to The Gartman Letter by contacting Dennis Garthman: Phone 757 238 9346, Fax 757 238 9346 or dennis@thegartmanletter.com

Petroleumworld News 03/04/08

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