How External Factors Will Influence OPEC Decision Making.

How External Factors Will Influence OPEC Decision Making. The final position on the extension of present production levelswill be taken by the key OPEC OPEC:see Organization of Petroleum Exporting Countries. OPECin full Organization of the Petroleum Exporting CountriesMultinational organization established in 1960 to coordinate the petroleum production and export policies of its producers, with emphasis on Saudi Arabia Saudi Arabia(sä`dē ərā`bēə, sou`–, sô–), officially Kingdom of Saudi Arabia, kingdom (2005 est. pop. and the other oil producers in the Gulf Co-operation Council (GCC GCC:see Gulf Cooperation Council. (compiler, programming) GCC - The GNU Compiler Collection, which currently contains front ends for C, C++, Objective-C, Fortran, Java, and Ada, as well as libraries for these languages (libstdc++, libgcj, etc). ). Theposition of the GCC in particular will be affected by the way in whichthe US responds to the latest price rises as well as developments thecoming months. The US is the most important strategic partner of the key oilproducing GCC members, and will seek to exercise some influence to bringprices to a level at which the economic performance of the US will notbe negatively affected. For their part, Saudi Arabia, Kuwait and the UAE (Uninterruptible Application Error) The name given to a crash in Windows 3.0. In subsequent versions of Windows, a crash was called a "General Protection Fault," "Application Error" or "Illegal Operation." See crash in Windows and abend. do not want to be seen as the ones responsible for undermining thestrong performance of the US economy or as the ones responsible forputting the Democratic Party in a tight spot ahead of the USpresidential elections. US Energy Secretary Bill Richardson is to visitSaudi Arabia in February, before which he will visit Venezuela as well. On Dec. 10, 1999, Richardson had expressed the Clintonadministration's concern about the rise of world oil prices,saying: "Prices have been drifting into what I see as dangerouslyhigher levels... I am prepared to recommend whatever steps are necessaryto protect the American consumer and the American economy...We'realmost in a danger range and I want to send a message". TheParis-based International Energy Agency (IEA IEA International Energy AgencyIEA International Environmental AgreementsIEA International Association for the Evaluation of Educational AchievementIEA Institute of Economic AffairsIEA Inferred from Electronic AnnotationIEA International Ergonomics Association ) has also weighed in,saying in mid-January that a 2-3 million b/d fall in oil stocks in thefirst quarter of 2000 and a 1-1.5 million b/d shortfall in the secondquarter can be expected. In recent weeks, Richardson has been urged by some members ofCongress to tap the US emergency stockpile, the Strategic PetroleumReserve This article refers to the United States Strategic Petroleum Reserve. For other countries see global strategic petroleum reservesThe Strategic Petroleum Reserve (SPR spr SpringSPR Strategic Petroleum ReserveSPR Surface Plasmon ResonanceSPR Suomen Punainen RistiSpR Specialist Registrar (UK doctor who supports a consultant)SPR Society for Psychical ResearchSPR Stop Prisoner Rape ) to push down prices. If this is done, it will have anegative impact on those who export to the US. It is likely that OPECmembers will try to avoid such an eventuality. But it remains to be seenwhether the OPEC members will be able to satisfy Washington withoutadjusting their production levels.