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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: BigBull who wrote (75970)10/10/2000 8:09:37 PM
From: kormac  Read Replies (1) of 95453
 
Saddam reducing supplies?

Washington (Platt's)--10Oct2000

The US can use the Strategic Petroleum Reserve to offset further crude oil export cuts by Iraq, a White House spokesman said Tuesday at a briefing. The spokesman was responding to a question on whether the Clinton administration was concerned by the news that Iraq's exports under the UN's oil-for-food program had dropped to 1.66-mil b/d for the first week of October from 2.6-mil b/d on average in September.
"As you know, we believe that ultimately, under the food-for-oil program, that Iraq has a vested interest in ensuring that its production remains stable and strong, and if they were to take any action (in slashing exports), we have more than ample ability, within the Strategic Petroleum Reserve, to offset that," the spokesman said.

Best, Seppo
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