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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Mike from La. who wrote (33484)12/24/1998 5:48:00 PM
From: BigBull  Read Replies (2) of 95453
 
Mike from La.: Irans Khorrazi Speaks

Apropos your excellent post.

thr 021
kharrazi-oil-japan
 kharrazi: iran calls for lowering oil production ceiling
tokyo, dec. 23, irna -- foreign minister kamal kharrazi said here
tuesday that iran has proposed that oil rich countries reduce the
oil production ceiling in order to push up crude oil prices in the
international market.
to resolve this international problem, members of the organization
of petroleum exporting countries (opec) and non-opec countries should
coordinate their decisions, kharrazi who arrived here monday on a
4-day visit said.
the iranian foreign minister told japanese reporters that although
a temporary decline in oil production will be to the benefit of the
consuming countries but continuation of this trend will not be
suitable for the international economy because it will damage the
economic growth of oil rich countries.
''the oil rich countries are now exploring avenues to increase
oil prices and their decision can most probably help strengthen oil
prices,'' he said.
kharrazi pointed out that the decline has caused economic problems
for iran. this is when iran should repay dlrs three billion of
its foreign debts, he added.
at present, iran's foreign debts total dlrs 12 billion, equal to
10 percent of its gross domestic product (gdp), the foreign minister
said.
ys/mr
end
::irna 23/12/98 15:04


Maybe, just maybe, low oil is starting to bite hard enough.
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