VOL. XLI

No. 04

26-January-1998

SAUDI ARABIA

Saudi Arabia Delivers Sharp ResponseTo Venezuelan Charges Of Overproduction

Saudi Arabia has come out with a sharpdenial of accusations by a leading Venezuelan oil official to theeffect that the Kingdom is currently producing at a level wellabove its new OPEC quota of 8.76mn b/d. Mr. Luis Giusti,President of Venezuela's national oil company Petroleos deVenezuela (PDVSA), speaking on 20 January in Caracas at a seminarsponsored by the...