NO. 37


Press Briefings By Iranian And Kuwaiti Oil Ministers

Iran's Gholamreza Aghazadeh (10 June)

I am not satisfied with the results of the agreement because Kuwait has not accepted to rollover the February production allocations. In order to solve this problem, the Conference proposed adding 160,000 b/d to Kuwait, but Kuwait rejected the offer.

In my opinion, if Kuwait had accepted the rollover, prices in the 3Q wouldhave improved by a minimum of $2/B. If Kuwait now...