Oil & Gas Price Economics Message Board

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Gold/Mining/Energy : Oil & Gas Price Economics

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To: Ed Ajootian who started this subject	12/28/2000 11:08:36 AM
From: Rod Copeland	Read Replies (1) of 350

Does anyone know how the sanctions on Iraq work. Being in the oil business, it was ironic to our industry, that when oil dropped to $9/bbl, Iraq was allowed to pump more oil, due to their quota being set at a US dollar figure of $6 billion (I think) annually. Now we have very much higher oil prices and it would seem that Iraq would be allowed to pump less oil in order to reach their dollar quota... but that doesn't appear to be the situation.. If anyone can shed some light on this situation, I would appreciate it. Rod Copeland

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