VOL. XLIV

No 30

23-July-2001

OPEC

OPEC ReadyTo Take Decision On Production Cut If Necessary

Saudi Oil Minister Ali al-Naimi told a pressconference in Bonn on 20 July that OPEC is ready to cut production ifnecessary, but wants to be sure of supply and demand fundamentals before makinga decision. He noted that the indicators show that oil demand is falling whilesupply is increasing. The reason the situation now is grave is that allsources of information lead us to believe that we are heading for a...