MEES Interview With Saudi Oil Minister Hisham Nazer

The following is the question-and-answer text of MEES Editor Ian Seymour'sinterview with Saudi Oil Minister Hisham Nazer:

Q: What in your view were the advantages of opting for a one-year, ratherthan six-month, rollover of OPEC's existing production ceiling and quotas, andhow did you present this Saudi proposal to your OPEC colleagues who accepted it?

A: First of all, the objective is higher prices. In effect,...