NO. 24



Nazer and Lukman Discount Immediate Action by OPEC

The Saudi Oil Minister, Mr. Hisham Nazer, does not believe that OPEC shouldcut production in reaction to the recent slide in oil prices and does not see ameeting of OPEC's five-man price monitoring committee as the only solution tocurrent oil market problems.

Speaking in response to questions from reporters in Baghdad on 14 March, Mr.Nazer said that "I don't think there ought to be an output cut byOPEC" and that...