Opec May Have to Maintain Output Levels.

Oil Daily, The,  April, 2003  by Karen Matusic

Tags: Iraq War, OPEC

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The myriad uncertainties surrounding the Iraq war, coupled with supply shortfalls in Nigeria and Venezuela, could leave Opec with little option but to maintain current output levels -- even though many members predict a supply glut.

Heavyweight Saudi Arabia, which had contemplated trimming back output just a couple weeks ago, now believes it is too soon to turn down the taps. That view seems likely to prevail over private calls by other Opec members for a production cut.

The kingdom believes the loss of Iraqi exports -- official and unofficial levels had been running at over 2 million b/d before the ...