The World - News from June 4, 1989

OPEC ministers meeting in Vienna said they think they will be able to reach a deal on oil output quotas to defend this year’s big gain in prices, but backstage talks in advance of Monday’s formal meeting are said to be at a delicate stage. One senior minister said that the Organization of Petroleum Exporting Countries will raise the ceiling on the group’s total output, now 18.5 million barrels daily, to satisfy competing demands among the 13 members to sell more oil. Other sources said it will be possible to raise the ceiling because strong world oil demand is already supporting OPEC’s actual quota-busting volume of 21 million barrels of oil a day.