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To: John Paquet who wrote (156)	10/10/1999 10:12:00 PM
From: goldsnow	of 507

Iranian Oil Minister Bijan Zanganeh said in a statement carried by the official IRNA news agency that last week's sharp oil price fall was the result of futures market speculation and not due to overproduction. "The price weakness in recent days can only be attributed to activities in the futures market," Zanganeh said. We are all aware of profit taking activities in this market. The price decline can in no way be attributed to reduced compliance (with the cuts)...as some reports have suggested." uk.news.yahoo.com

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