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

To: BigBull who wrote (44831)	5/16/1999 8:19:00 AM
From: Crimson Ghost	Read Replies (1) \| Respond to of 95453

Holding their feet to the fire? iran-saudi-oil tehra, riyadh hail opec members commitment to production cuts jeddah, may 16, irna -- the iranian and saudi arabian oil ministers here sunday hailed the commitment of the opec member states to their promise to cut their oil output. iranian minister bizhan namdar zanganeh and his saudi counterpart, ali al-naimi termed as necessary the continuation of cooperation among opec members in coming months and renewed their call to the non-opec oil producing countries to implement the already-reached agreements with opec to reduce their output in order to stabilize oil market. pointing to the firm will of the opec members to move towards boosting oil prices on international market, al-naimi said opec would take the necessary measures if needed to boost prices. zanghaneh, who is the chairman of the committee to control opec market, noted that the opec secretariat was closely checking whether organization's members observed their obligations. the two ministers also discussed mutual oil cooperation and exchange of information. saudi arabia and iran produce 7,438,000 and 3,359,000 barrels of oil per day. vd/rr end ::irna 16/05/99 15:30