VOL. XLI

No. 13

30-March-1998

OPEC

Oil Producers Face Up To Declining Oil Revenues

In Saudi Arabia,the Minister of Finance and National Economy, Mr.Ibrahim Assaf, said last week at a conference in Abu Dhabi that the Kingdom's economicfundamentals were strong despite the recent oil price weakness. However, in the firstadmission from a senior Saudi official that lower oil prices are impacting upon theeconomy, he added that the government was currently revising its economic growthpredictions. The...