VOL. XLII

No. 19

10-May-1999

IRAQ

Iraqs Kirkuk Oil Sales Threatened By Price Distortions

Despite a continued strong price climate in world oil markets buoyed up by reports of satisfactory compliance by OPEC producers with their agreement for a 1.7mn b/d output cutback effective 1 April conditions have nevertheless reached a state of dangerous confusion in some sectors, with distortions between physical crude prices in the European/Mediterranean area threatening to give rise to near-rebellion...