VOL. XLIII

No. 23

5-June-2000

SAUDI ARABIA

OPEC Production Increase Should Not Be Triggered Automatically Because High Prices Are Product Driven And Not Caused By Crude Shortage, Says Naimi

Ali al-Naimi, the Saudi Petroleum and Mineral Resources Minister, has emphasized that it is important to understand the driving force behind the current rise in oil prices before taking a decision to trigger the mechanism to release 500,000 b/d if the OPEC basket price averages $28/B over a 20-working-day...