OPEC's 30 million b/d target

摘要

OPEC's 30 million b/d oil output target, without individual country allocations, leaves Riyadh as the sole arbiter of OPEC's contribution to the supply/demand balance in 2012, with perhaps some grudging support from the other Gulf Arab states. Saudi Arabia is the only OPEC country with surplus capacity and the only one likely to shoulder the burden of production cuts. The lack of country allocations is essentially a green light for other OPEC countries to produce as much as they can, the drawback being that they have very limited capacity to do so.