NO. 42



Otaiba Says Cease Fire will Boost Oil Prices

The UAE Minister of Petroleum and Mineral Resources, Dr. Mana Saeed al-Otaiba,believes that a cease fire in the Gulf war will lead to greater coordination inOPEC and thus to higher oil prices. In a statement published on 20 July, Dr.Otaiba noted that the market had reacted favorably to the announcement that Iranhad accepted UN resolution 598, saying that "prices, which have risensignificantly in the past two days, will...