VOL. XXX

NO. 7

24-NOVEMBER-1986

OPEC AND OIL PRICES

Venezuelan Oil Minister Sees No Need for OPEC Output Cutback

OPEC couldachieve an oil price of $18/B without having to cut its current productionlevel, according to the Venezuelan Energy and Mines Minister, Dr. ArturoHernandez Grisanti. "It will not be necessary to reduce output in order tomaintain a balance in the world oil market," he said in Caracas on 20November, adding that this was the view of his Ministry and of the state oilcompany,...