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To: Donaldm who wrote (39176)	3/7/1999 7:22:00 PM
From: Platter	Respond to of 95453

Iran vows to work for better oil prices (Adds Iran, Saudi oil ministers meeting in Riyadh) TEHRAN, March 7 (Reuters) - Iranian Foreign Minister Kamal Kharrazi said on Sunday Tehran was determined to work for higher oil prices. "We are determined to continue efforts until we bring prices to an aceptable level," he told a news conference. Kharrazi said he would discuss ways of boosting troubled oil prices on his impending trip to fellow OPEC member Venezuela. The Iranian minister spoke positively about his meetings with Saudi leaders in the kingdom last week which focused on the collapsed oil market. "I had good talks during my trip to Saudi Arabia. Fortunately, they had good effects on prices and such cooperation will continue. Next week I will go to Venezuela and hope we will witness better results," he said. The minister did not give a date for his trip, but Iranian diplomats in Caracas had said it would take place on March 17. Iran is in a dispute with other OPEC members, mainly Saudi Arabia, over the volume of oil it is obliged to cut from its production under an OPEC pact last year designed to improve prices. Kharrazi's comments came as Iranian Oil Minister Bijan Zanganeh held talks with his Saudi counterpart Ali al-Naimi in Riyadh. A flurry of recent Iranian oil diplomacy has raised the possibility that the fractious Organisation of Petroleum Exporting Countries could bury its differences and impose new measures to increase oil prices. It holds a crucial ministerial meeting in Vienna on March 23. International benchmark Brent crude in London ended two cents higher at $11.55 a barrel on Friday, some $2 above December's 12-year low.