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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (32793)	12/13/1998 8:50:00 AM
From: Captain James T. Kirk	Respond to of 95453

Sunday December 13, 5:56 am Eastern Time Oil-Opec-Arabs Cairo The source, who is familiar with Saudi thinking, said the kingdom was prepared to impose further oil production cuts if prices stayed at crisis levels and other OPEC producers fully complied with their output limits. An OPEC delegate said Saudi Arabia was ''highly hopeful'' that the new Venezuelan government would work with its OPEC partners to raise prices and put less emphasis on market share. He said Saudi Arabia was also hopeful that Iran would move towards full compliance with its pledged production cut. Harmony between OPEC giants Saudi Arabia, Iran and Venezuela, who are often at odds on oil policy, is key for any new measures to rescue oil prices, now at their lowest level since 1976 on an average annual basis. Arab OPEC members held an unscheduled meeting to discuss the troubled oil market on Saturday on the sidelines of a meeting of the Organisation of Arab Petroleum Exporting Countries in Cairo, the OPEC delegate said. --------------------------------------------------------------------------------