VOL. XLI
No. 08
23-February-1998
SAUDI ARABIA
OPEC Still Mulls Saudi Proposal Despite Venezuela's NegativeReaction
Tentative moves among some leading OPEC players to lay the groundwork for a productioncutback, badly needed to remedy the prevailing oversupply and price crunch in the worldoil market, seemingly hit a wall last week after Venezuela brusquely rebuffed anexploratory Saudi initiative in this direction. Venezuelan cooperation would be essentialfor the success of any effort at production...
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