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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Crimson Ghost who wrote (36917)2/5/1999 3:03:00 PM
From: SargeK  Read Replies (2) of 95453
 
George,

Rodriguez of Venezuela has already indicated that they would favor further cuts at next months meeting if other exporters would come into compliance with current production ceilings. The biggest impediment to an agreement is IRAN. Perhaps Saddam may be persuaded to use his Kuwait strategy on IRAN. You know, SET 'EM on fire. Ha!

Rodriguez/Minister of Energy: "As well as promising to abide strictly by the existing agreement, which lasts until June, Rodriguez has said producers should consider additional cuts as a means of getting prices up.

However, OPEC officials say Iran's failure to implement the production cuts agreed last year are a significant obstacle to any further action by the cartel. Iran argues OPEC gave it a mistakenly low benchmark production from which to cut. : "

K
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