NO. 24


GCC Oil Ministers Meeting Offers Little Guidance On Future OPEC Action

The much-heralded meeting of Oil Ministers of the members of the GulfCooperation Council (GCC) - Saudi Arabia, Kuwait, the UAE, Oman, Bahrain andQatar - in Jiddah on 5 March ended with no official communique and preciouslittle indication regarding the prospects for the OPEC ministerial gathering inGeneva on 25 March. As a result, crude prices dropped by 40-50 cents/B (to$14.10/B for WTI and...