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92nd Meeting Agency Algeria average basket price b/cd basket price declined co-operation concem crude oil spot Development UNCED East Economic Commission Board Ecuador efﬁciency Energy estimated Europe expected February ﬁrst quarter Former CPEs freight rates Gabon gasoil Geneva improved increasing reﬁnery Indonesia intemational Iran Iraq Iraq and Kuwait January joint ventures Kuwait Libya LPG carriers mainly due major mb/cd mb/d million DWT Minister Ministerial Monitoring Committee Nigeria Non-OPEC North Sea November OECD Oﬂicers oil consumption oil demand oil industries oil market oil prices oil spot prices oil stocks OPEC area OPEC basket OPEC Conference OPEC Countries OPEC Member Countries OPEC production OPEC's average basket OPECNA Paciﬁc Rim Petroleum product market programme Qatar reﬁnery reﬁnery runs reﬁning capacity Rio de Janeiro S.P. Libyan Saudi Arabia second quarter Secretariat September strong demand supply third quarter tonnage Total OPEC UNITED ARAB EMIRATES Venezuela Vienna