NO. 36



Saudi Oil Minister Renews Adherence to OPEC Quota

The Saudi Oil Minister, Mr. Hisham Nazer,has once again confirmed his country's commitment to adhere to the OPECagreement reached in Geneva last month. Mr. Nazer reiterated this position in astatement to the Saudi Press Agency on 5 June in response to press reports thatSaudi Arabia plans to raise its production above the quota level following thereduction of its price formula for July. The Minister said that...