NO. 49


OPEC & Gulf

Ginandjar Warns of $40/B Oil if IEA Does Not Draw on Stocks

Mr. Ginandjar Kartasasmita, the Indonesian Mines and Energy Minister, haswarned that if the industrial countries do not release part of their stocks now,prices would rise to $40/B in the fourth quarter. "Oil stocks in industrialcountries must be released now to push prices down. If not, oil prices couldreach up to $40/B by the fourth quarter," Mr. Ginandjar told reporters on 1September...