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To: Lucretius who wrote (8623)	1/17/1998 3:50:00 PM
From: HH	Respond to of 95453

I am glad you found confirmation,,,, look at this: DUBAI, Jan 17 (Reuters) - A commentary carried by the UAE's official news agency WAM has cautioned against holding an early OPEC meeting in response to a slump in world oil prices. "Holding a conference at this particular time may subject OPEC to a new shock which may be caused by the eruption of new conflicts between member states, especially if the issue of returning to the previous level of production is proposed," said the commentary, published by the state-owned Emirates News on Saturday. OPEC ministers have seen the price of oil slump since agreeing in December to raise the cartel's output ceiling by 10 percent to 27.5 million barrels per day. "The only sensible option to be followed by OPEC is to give more chance to the new deal to play its role in the international market on condition that every member strictly commit itself to the quota allotted," the commentary said. OPEC delegate sources said this week that the ministerial monitoring committee was considering meeting later this month, ahead of its scheduled meeting in March. The committee, comprising three ministers and OPEC Secretary General Rilwanu Lukman, monitors oil market developments and member quota output. It has no powers over OPEC quotas. There has been no call from any OPEC state for an early full ministerial meeting of OPEC ahead of the scheduled twice-yearly talks in Vienna next June. OPEC member Libya called on OPEC on Wednesday to reverse its decision to raise its oil output ceiling. 02:44 01-17-98