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To: Tommaso who wrote (64325)4/11/2000 6:00:00 PM
From: Tomas  Read Replies (2) | Respond to of 95453
 
Tommaso: OPEC is prepared to reverse 1/3 of the 1.5 million bopd production increase agreed to last month if the price for OPEC's benchmark basket stays below $22 for 20 days (on average). That would force OPEC to reduce output immediately, without internal debate. The price yesterday was $20.99, and today it's still below $22 (the OPEC price is normally $0.30-0.50 below brent and at least $2 below WTI).