NO. 39


Iraq Steps Up Pressure Campaign To Cut OPEC Output And Strengthen Prices

Iraq has now taken the lead in inter-OPEC diplomacy with a hard-hittingpublic and private campaign, evidently designed to pressure the UAE and Kuwaitinto cutting production to quota levels in order to help strengthen saggingcrude oil prices which are now languishing $4-5/B below the target minimum of$18/B for the OPEC basket.

Urgent messages to this effect from Iraqi President Saddam Husain were...