VOL. XXXIII

NO. 21

26-FEBRUARY-1990

Iraq Seen To Be Advocating Higher OPEC Price Target

Iraq now appears to be urging other key Gulf oil producers to set theirsights at a somewhat higher price target than the $18/B "minimum referenceprice" - in nominal terms - which is currently embodied in the OPECagreement of November 1989.

This - MEES understands from Gulf sources - is reckoned to be the main thrustof recent messages from President Saddam Husain of Iraq to the leaders of SaudiArabia and Kuwait....