[iwar] [fc:Saudi.to.rally.Russia.to.support.output.cut]

From: Fred Cohen (fc@all.net)
Date: 2001-10-29 21:47:20


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Date: Mon, 29 Oct 2001 21:47:20 -0800 (PST)
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Subject: [iwar] [fc:Saudi.to.rally.Russia.to.support.output.cut]
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 WorldOil.com

RIYADH: Saudi to rally Russia to support output cut 29/10/2001 08:33:37
Saudi Oil Minister Ali al-Nuaimi will shortly visit Moscow in a bid to win
Russian support for OPEC moves to reduce world oil supplies and boost
sagging prices, Al-Hayat newspaper reported.
The Saudi-owned daily said Sunday that Nuaimi's trip, part of contacts
between OPEC members and independent producers, would take place before the
next ministerial meeting of the oil cartel in Vienna on November 14.
Nuaimi and oil ministers from the United Arab Emirates, an OPEC heavyweight
like Saudi Arabia, and non-OPEC state Oman met Saturday and said the cartel
would further reduce oil production to try to force up prices.
Moscow, the world's leading non-OPEC producer, appeared on October 22 to
rule out the option of cutting its own production.
Russia is already due to join a meeting of OPEC experts in Vienna on
Monday, with plenty of motivation to boost its own production even further
in a bid to finance local reforms.
Industry analysts say Russia, the world's third-largest oil producer, is on
the verge of becoming the top exporter outside OPEC.
AFP

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