NO. 12


Iran Proposes Additional 2% Cut In OPEC Output

In a bid to remedy the current oil market weakness, Iranian Oil MinisterGholamreza Aghazadeh is proposing an additional output cutback of 2% from theallocations agreed upon at last month's OPEC meeting in Vienna. Mr. Aghazadeh,who put forward this proposal in a telephone interview with MEES Editor IanSeymour, said that the suggested 2% reduction in production should be madeacross the board by all OPEC members and...