NO. 8



Hiti on Impact of Iraqi Oil Exports on OPEC and World Markets

Mr. Usama al-Hiti, the Iraqi Oil Minister, said last week that it is Iraq'sabsence from the markets which is causing the present destabilization of oilprices, and that once Iraq resumes exports the other OPEC member states willhave to reduce their present excess production in order to avoid a pricecollapse. Mr. Hiti told the Baghdad Observer on 18 November that "imposingan embargo on Iraqi oil...