VOL. XLI

No. 20

18-May-1998

SAUDI ARABIA

Saudi Arabia Seeks US Understanding For Collective Action By Oil Producers On OutputRestraint

It is of vital importance for oil producers and consumers alike that the producersshould maintain an appropriate level of surplus output capacity and manage that excesscapacity in such a way as to assure the stability of oil markets and prices. This, MEESunderstands, was one of the main arguments put forward by the Saudi side in the recenttalks held in...