In view of the above it is of course no accident that Venezuela was one of those in favour of cutting production quotas in early 1999,
when the price per barrel of crude fluctuated around $10 per barrel, th
at Iran and Algeria were particularly reluctant to relax the production quotas having been adopted by OPEC in March 2000 and that Saudi Arabia is at th
e moment discreetly releasing further quantities onto the market in order to d
...[+++]ampen down prices.