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To: SargeK who wrote (38192)	2/24/1999 4:25:00 PM
From: Crimson Ghost	Read Replies (1) \| Respond to of 95453

The bulls should welcome a final climax. Just what is needed to turn things around. The key is high volume on the downside followed by a very sharp reversal. Too soon to be sure that one is at hand but the signs are encouraging. I see that HAL finally is buckling -- another sign that the end of the bear is near Iraq telling it like it is re: OPEC. Iraq asks OPEC to urge Saudi Arabia to cut oil output BBC Monitoring Middle East - Economic Text of report by the Iraqi news agency INA Baghdad, 24th February: Iraq has officially asked the OPEC oil ministers to urge Saudi Arabia to cut its current output of crude oil to stop the sharp decline in oil prices, Oil Minister Dr Amir Muhammad Rashid said. In statements to journalists here today, Rashid called on Saudi Arabia to cut its output by at least 1.5m barrels per day to stop the fall in oil prices. He held Saudi Arabia exclusively responsible for the oil market fluctuations, since it is implementing US objectives against the exporting nations. He indicated that Iraq believes that it is necessary to raise oil prices to 14-15 dollars per barrel as a first step. The oil minister stressed that the low oil prices have significantly affected Iraq's revenues within the oil-for-food-and- medicine agreement. He accused the United States and Britain of continuing to seek to obstruct the approval of the contracts that Iraq concluded to purchase spare parts for its oil installations, noting that there are still 87 suspended contracts. On the establishment of a gas pipeline between Iraq and Turkey, Dr Rashid stressed that the two sides have made tangible progress and that contacts are continuing between them. He indicated that a Turkish delegation that visited Baghdad recently concluded its contacts with Oil Ministry officials on organizational arrangements for this project. (Copyright 1999) _____via IntellX_____ Publication Date: February 24, 1999 Powered by NewsReal's IndustryWatch ...back to top