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To: P.Prazeres who wrote (17129)	3/30/1998 7:42:00 AM
From: Teddy	Respond to of 95453

OPEC Meeting At A Glance: OPEC Mtg To Start 1500 GMT That is about two hours from now AP-Dow Jones News Service -The full ministerial extraordinary meeting of the Organization of Petroleum Exporting Countries will start at 1500 GMT. The meeting will be chaired by Obaid bin Saif Al-Nasseri, the UAE oil minister and OPEC's president. -Delegations from all OPEC member countries are now present in Vienna. Ten countries are represented by their oil ministers while the eleventh OPEC member Iraq is represented by its senior deputy oil minister. -Libyan Oil Minister El-Badri said all OPEC members agreed to cut output from current production levels. He was unable to say whether production levels would be determined from secondary output figures. -The UAE and Qatar oil ministers emerged from a two hour meeting with their Saudi and Kuwait counterparts saying no issues have been resolved. UAE's al-Nasseri said the gulf producers don't foresee any obstacles going into this afternoon's full extraordinary ministerial meeting. -Al-Nasseri said the UAE isn't willing to increase its promised oil production cut from 125,000 b/d or 5.2%. But as far other OPEC countries are concerned 'all the options are open,' he said. -Nigerian oil minister Etete said he expects the OPEC meeting to end Monday. Etete said: 'Certainly it will end today. The outcome will be favorable to everyone.' -Qatar's Oil Minister al-Attiyah said his country would cut 30,000 barrels a day from its actual production rather than its OPEC quota. He added that Qatar was happy with the current level of promised cutbacks, designed to boost oil prices on international markets. -OPEC delegates said that the deal setting voluntary oil output cuts last week in Riyadh, Saudi Arabia, is focused on the battle for market share in the U.S., but doesn't address broader concerns of lifting oil prices to acceptable levels.