VOL. XXXI

NO. 16

25-JANUARY-1988

UAE

UAE Cabinet Reiterates Backing for $18/B Price

The UAE Cabinet has publicly reiterated its support for OPEC efforts todefend the official reference price of $18/B and limit production to the ceilingof 15.06mn b/d, with a view to stabilizing the oil market. This announcementwas made after a meeting of the UAE Cabinet on 18 January, presided over by theDeputy Prime Minister, Shaikh Hamdan bin Muhammad.