Nine OPEC Members Drop July 1 Oil Price Hike
Vienna AP reports nine of the Organization of Petroleum Exporting Countries drop plans for a five percent oil price increase set for July 1. Saudi Arabia and the UAE favored a one time five percent rise, while Libya and Iraq held out for the boost.
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Lubbock Avalanche-Journal
OPEC
Vienna
Austria
Organization of Petroleum Exporting Countries
Saudi Arabia
United Arab Fanirates
CAR
Uae
Saudis and UAE Seen Raising OPEC Oil Prices Soon
Industry observers expect Saudi Arabia and the United Arab Emirates to raise oil prices to align with other OPEC members after nine nations forego a July increase. The move could lift prices by about five percent, with possible effects on US gasoline and heating fuel costs.
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New York
Organization of Petroleum Exporting Countries
U.S
OPEC
Saudi Arabia
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Uae
Nicosia
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Libya
Iraq
DAK
United States
John Simpson
Citibank
Anthony Copp
The
Vestment Banking House
Salomon Brothers
Tom Peake
Standard Oil of
California
Saudis
Traq
Vietnamese Leaders Seek U S Oil Tests and Investment Return
Vietnam aims to rebuild its war-ravaged economy with liberal foreign investment and long term production deals. Bank of America analyst Saubelle says Vietnam seeks loans and is drawing interest from Hong Kong, Europe, Japan, and the Middle East, while observers warn of shifting U.S. policy and Congress actions affecting investment.
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