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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Elmer Flugum who wrote (13148)2/28/1998 4:45:00 PM
From: ViperChick Secret Agent 006.9  Read Replies (3) of 95453
 
I dont know if this has been posted yet....
from the WallStreet Interactive Journal...AP

RIYADH, Saudi Arabia -- Iran and Saudi Arabia, two of the world's key oil
producers, promised Saturday to help shore up tumbling oil prices if other
producers curb their output.
In a joint statement issued in Tehran and Riyadh, the two countries said they
were "very worried about the price of oil" and agreed that "the responsibility
for the reversal of oil prices falls on all the producing countries."

The statement said that Iran and Saudi Arabia were prepared to coordinate
with other members of the Organization of Petroleum Exporting Countries to
return stability to the market. But overproducing countries must first take
"concrete steps" to cut back production, it said.
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