VOL. XXXIX

No. 36

6-June-1996

SAUDI ARABIA

Saudi Arabia Believes Iraqi Oil Supply Can Easily Be Absorbed By Burgeoning Demand In 2H 1996 Without Quota Cuts By Rest Of OPEC

Saudi Arabia is highly optimistic about prospective demand for OPEC oil in the second half of this year, and therefore believes that the projected incremental supply from Iraq of around 700,000 b/d under the oil-for-food deal with the UN can easily be absorbed by the market without any need for quota cuts by other...