Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: ItsAllCyclical who wrote (57631)	12/30/1999 3:42:00 PM
From: Meridian	Read Replies (2) of 95453

Iran cites 90% compliance ... Dow Jones Newswires OPEC Likely To Extend Oil Cuts By 3 Or 6 Mos In March LONDON -- The Organization of Petroleum Exporting Countries is likely to agree to extend oil cuts for three to six months in March when the current cuts agreement expires, an official at the Iranian oil ministry told Dow Jones Newswires Monday. The official quoted the Iranian oil minister Bijan Namdar Zanganeh, who was speaking at an Iftar reception marking the end of a day of fasting. "OPEC members will probably agree in their March meeting to extend the cuts for another three to six months." OPEC, along with key non-OPEC producers, decided in March this year to shave 4.136 million barrels a day off their total production until March 2000. Zanganeh also reiterated that OPEC compliance with supply curbs was at 90%. The Iranian oil minister's comments follow recent statements made by former Algerian oil Minister Youcef Yousfi. Yousfi, who took up the post of foreign affairs minister Friday

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