GCC AND SAUDI ARABIA STAND FIRM ON OIL POLICY

In the run-up to the OPEC conference in Geneva on 16 March, the positions of the various parties were further sharpened and clarified last week. Three distinguishable types of position have now taken shape: firstly that of the Saudiled group of Arabian peninsula exporters who hold to the "defense of market share" decision of OPEC's December 1985 conference and believe that the oil market can only be stabilized through a joint...