Election year, eschmection year.
Mar. 31st, 2004 09:59 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
novapsycheOPEC close to agreement on production cuts
OPEC oil producers Wednesday agreed to endorse tighter oil supply curbs, ignoring consumer country concerns about crude prices near 13-year highs, the Libyan Oil Minister Fethi bin Chetwane said.
The Organization of Petroleum Exporting Countries decided to implement a deal cutting one million barrels a day from April 1, Iranian Oil Minister Bijan Zanganeh said. The pact was first arranged in Algiers in February.
The Bush administration, in a U.S. election year, had called on OPEC to lift output restrictions to help control U.S. prices at the pump and prevent energy inflation slowing economic growth.
Gulf OPEC members Kuwait and the United Arab Emirates argued the cartel should consider deferring the April curbs to allow prices to cool.
OPEC blames speculative investors who hold record positions on futures exchanges in London and New York for driving up oil prices this year.
OPEC oil producers Wednesday agreed to endorse tighter oil supply curbs, ignoring consumer country concerns about crude prices near 13-year highs, the Libyan Oil Minister Fethi bin Chetwane said.
The Organization of Petroleum Exporting Countries decided to implement a deal cutting one million barrels a day from April 1, Iranian Oil Minister Bijan Zanganeh said. The pact was first arranged in Algiers in February.
The Bush administration, in a U.S. election year, had called on OPEC to lift output restrictions to help control U.S. prices at the pump and prevent energy inflation slowing economic growth.
Gulf OPEC members Kuwait and the United Arab Emirates argued the cartel should consider deferring the April curbs to allow prices to cool.
OPEC blames speculative investors who hold record positions on futures exchanges in London and New York for driving up oil prices this year.
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(no subject)
Date: 2004-03-31 08:53 am (UTC)Yeah. I think they know we the US can't go bullying anyone else without getting slapped with some kind of fallout in international trade and tanking the economy.
I'm hoping that starting this election year *world* public opinion of our leaders matters just as much as US public opinion.