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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (3098)	3/29/2004 11:33:38 PM
From: CalculatedRisk	Respond to of 116555

Saudi Arabia to call for Opec output cut By Carola Hoyos in Vienna and Javier Blas in Madrid Published: March 30 2004 0:56 \| Last Updated: March 30 2004 0:56 news.ft.com Saudi Arabia will on Tuesday push the Organisation of Petroleum Exporting Countries to cut output despite some members' opposition and high oil prices. Ali Naimi, Saudia Arabia's energy minister, late on Monday told Felipe Calderón, his Mexican counterpart, that the market looked over-supplied and that the kingdom feared a serious price drop in the coming months if the oil cartel did not act immediately, people close to the meeting said. <more in article>