|
OPEC, UN responsible for oil price drop, Egyptian minister says
Regional-Egypt, Economics, 3/7/1998
Egyptian oil Minister Hamdi al-Banbi accused OPEC and the UN Security Council's five permanent member states of responsiblity for the current recession in oil prices.
The decision by OPEC member states to raise the oil production ceiling came at the improper time: during a fairly warm winter and an economic crisis from which southeast Asian states -- big consumers of oil -- are suffering, AFP reported al-Banbi as saying in a statement to "Akher Saa (Last Hour) magazine.
The minister said on Wednesday that oil prices will recede further, after the recent crisis with Iraq and the decision of the UN to permit Iraq to increase its oil production.
Previous Stories:
UAE welcomes sultanate's call for oil meeting
(3/4/1998)
OPEC states worry over price drop
(3/2/1998)
Saudi Arabia concerned over oil price reduction
(2/21/1998)
Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.
|
Advertise on ArabicNews.com. MyFlowers.com sold more than $2700 of flowers in one month advertising on ArabicNews.com! Make your company, and products a success. Special rate for new and small business. Inquire!Advertising Info
|
