VOL. XLV

No 14

8-April-2002

OPEC

Gulf Producers Rule Out Oil BoycottBut Politics Still Drives Crude Markets

In a week when callswere heard in the Middle Eastfor oil to be used as a weapon against Israeland the US,oil producing states in the Gulf affirmed that this was not a possibility. Asenior Gulf oil official told MEES on5 April that the Gulf statesintention was not to mix oil with politics. The idea of using oil forpolitical goals within global markets is unthinkable right now. The GCC states...