VOL. XLI

No. 39

28-September-1998

OPEC

Oil Ministers Meeting In Kuwait Favors Further Production Cuts

Meeting in Kuwait on 23 September, five Oil Ministers from Kuwait,Iran, Algeria, the UAE and non-OPEC Oman agreed to "continue their consultations andcooperation with other producers to examine all possible options and take the necessarymeasures to improve the existing oil market prices, including further reductions in oilproduction."

In this, the five went a step further than the group of three...