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The OPEC Oil Price Challenge.


Saudi Arabia is oppos to raising OPEC's basket price target to $30-40/b for the simple reason that at of the like kind a level the major exporters of conventional oil will be pricing themselves on the outside of the energy market. This is the greatest in quantity challenging topic for OPEC, whose oil ministers are to suitable in Vienna on Jan. 30 to decide the organisation's output horizontal for the second quarter of 2005 not single through the coming 12 month on the contrary beyond next year.

Saudi Arabia has more than 600 bn barrels of oil in place, which can become recoverable as E&P


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