VOL. XXXIII

NO. 39

2-JULY-1990

OPEC

Iraq Rejects Increase in Ceiling before Reference Price Rise, Says Chalabi

Mr. Isam al-Chalabi, the Iraqi Oil Minister, has rejected an increase in the22mn b/d OPEC production ceiling before the $18/B reference price is correctedto meet rising inflation. At the same time, the Iraqi Minister has proposed apartial amendment to the ceiling to accommodate an increase in the UAE quota,possibly to be followed by an across the board reduction to stabilize prices and...