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Kuwaiti petroleum minister warns of $5 per barrel price for oil
Kuwait-Regional-OPEC, Economics, 12/29/1998
Kuwait warned yesterday that petroleum prices could reach $5 per barrel unless the producers take an immediate steps to prevent that.
Kuwait also said that the Organization of Petroleum Exporting Countries could convene an emergency session to discuss the deterioration of petroleum prices before its usual conference in March.
Kuwaiti Minister of Petroleum Sheikh Saud Nasser al-Sabah said in press statements that OPEC could convene in February, after the new government in Venezuela assumes power, to help facilitate undertaking collective procedures to deal with the problem.
Previous Stories:
Syria to build two-lane highway with cooperation from Kuwaiti fund
(12/14/1998)
Gadhafi wants freeze on crude oil production
(12/11/1998)
Deficit in Kuwait's budget shows need for new laws on international loans
(11/3/1998)
OPEC's head calls on non-member states to reduce production
(10/12/1998)
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