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

To: DavidG who wrote (33334)	12/22/1998 10:18:00 AM
From: Captain James T. Kirk	Read Replies (1) \| Respond to of 95453

December 21, 5:22 pm Eastern Time Venezuela's Chavez says hopes OPEC meet not needed MEXICO CITY, Dec 21 (Reuters) - Venezuelan President-elect Hugo Chavez said on Monday he hoped a special meeting of OPEC nations would not be necessary in the next three months because that would imply a continuing fall in world oil prices. ''I hope that at least for this next three-month phase that calling a special (OPEC) meeting will not be necessary,'' Chavez told a news conference after meeting with Mexican President Ernesto Zedillo. The South American nation of Venezuela is a member of OPEC. It has worked closely with Saudi Arabia and non-OPEC Mexico to bolster flagging prices by limiting the amount of oil available on the market. But Venezuela has not fully complied with cutbacks that it agreed to with the other two nations. Chavez, who takes office in February, said he has requested information about Venezuela's compliance with the oil cut program from Venezuela's energy ministry and the state oil company. ''Once we have the complete information about what has been and what will be the effect on the real economy, on employment, we will establish a timetable for complying in the first months of next year,'' Chavez said. --------------------------------------------------------------------------------