Saudi oil target
NZPA-Reuter Bahrain Saudi Arabia has emphasised the importance of keeping world oil prices within a range of between SUSI 4 and SUSIB a barrel, a Gulf oil official said.
He said a report presented by the kingdom at a meeting of Gulf Cooperation Council Oil Ministers had outlined reasons for keeping prices within those limits.
“If prices fall below SUSI 4, foreign producers will begin putting taxes on imports, while if they rise above, alternative sources of energy will gain momentum,” said the official, who wished to remain anonymous. The recommendations call for adherence to last month’s OPEC oil output pact setting a ceiling of 18.5 million barrels a day for the first half of 1989.
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Press, 28 December 1988, Page 24
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119Saudi oil target Press, 28 December 1988, Page 24
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