VOL. XXXVII

NO. 2

11-OCTOBER-1993

KUWAIT

Kuwait Cuts Crude Oil Production To 2Mn B/D

Kuwait announced on 5 October that it was reducing its crude oil output to2mn b/d in line with its allocation as stipulated in the OPEC agreementconcluded at the Geneva conference in September (MEES, 4 October). In astatement to Reuters on 5 October, the Kuwaiti Oil Minister, Mr. Ali al-Baghli,expressed his confidence that oil prices would rise by about $3.00/B in the nearfuture. He pointed out that there was a...