VOL. XXXI

NO. 4

2-NOVEMBER-1987

OPEC/NON-OPEC

Lukman Again Foresees OPEC Price Rise for Next Year

Mr. Rilwanu Lukman, Nigeria's Oil Minister and the current President of theOPEC Conference, has once again spoken of the likelihood of a price hike ofbetween $1 and $2/B by OPEC at its December meeting in order to compensate forthe depreciation of the dollar. However, his remarks were swiftly followed by astrong negative reaction from Saudi Arabia and Kuwait who completely reject anyincrease in the...