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Strategies & Market Trends : games trader group
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To: LaFayette555 who wrote (164)10/11/1999 10:07:00 PM
From: goldsnow  Read Replies (2) of 507
 
For the first time, Saudi Arabia joined a growing list of major oil producers who left open the possibility of extending a production cut pact beyond its March expiry if the glut had not been eliminated.

"Saudi Arabia thinks the cuts should continue until March and even after that the possibility of an extension is there," a Gulf source close to oil policy in Saudi Arabia, the world's biggest oil producer and exporter, told Reuters.

...Asked what would push OPEC to keep the supply curbs in place after they expire in March, the Gulf source added: "It has to do with the price at the time, stock levels and the supply and demand picture for next year."

business-times.asia1.com.sg
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