VOL. XXXII

NO. 1

10-OCTOBER-1988

OPEC DEVELOPMENTS

Saudi Arabia Warns It Will Not Freeze Production While Others Boost Output

Saudi Arabia has issued a strongly-worded statement to the effect that it isnot prepared to freeze its production at quota level at a time when other OPECcountries are raising their output and laying themselves open to the"damaging effects of the market collapse resulting from their persistentand willful violation of their quotas."

However, the statement makes it clear that...