VOL. XLI

No. 29

20-July-1998

OPEC

Declining Oil Prices And Budget Revenues

In Kuwait, the Oil Minister, Shaikh Sa'ud Nasiral-Sabah, has warned against the lack of awareness of the current economic situationoccasioned by the collapse of oil prices. In an interview with the Kuwait daily al-Qabasof 14 July, the Minister pondered the rationale behind the oil price of $12/B on which theKuwaiti budget for 1998-99 is based, when current prices are around $10/B. He alsoquestioned the potential size of...