OPEC AND OIL PRICES

Subroto Denies Indonesian Netback Deal Report 

The Indonesian Mines and Energy Minister, Dr. Subroto, who is also the President of the current session of the OPEC Ministerial Conference, has denied press reports that Indonesia has concluded any crude oil sales deals on a wetback basis. At the same time, however, he suggested that the forthcoming OPEC conference in Geneva on 7 December is likely to consider a number of more flexible approaches to pricing.

Speaking...