Three oil articles in the news today. None of them indicate that the flood gates will open and well be awash in oil.

1. Iraq Urges Oil Countries Not to Heed U.S. Pleas to Raise Output

By Leon Barkho Associated Press Writer

BAGHDAD, Iraq (AP) - The United States has no right to pressure oil-producing countries to raise output in order to bring down the price of crude on global markets, Iraq's oil minister said Sunday.

"We consider this unwarranted and unjustified, and it is an overreaction by the American administration," Oil Minister Amer Mohammed Rashid said in response to a U.S. bid to persuade Gulf oil producers to loosen reins on output.

Rashid urged his partners in the Organization of Petroleum Exporting Countries not to yield to American pressure.

[snip]

Did we expect Iraq to rush in to send us oil?

2. Report: Japanese Oil Company Fails to Renew Saudi Concession

The Associated Press

TOKYO (AP) - Japan's biggest oil producer failed to reach an agreement with Saudi Arabia to renew an oil concession set to expire early Monday, Japan's trade minister said Sunday, according to news reports.

[snip]

Arabian Oil's 42-year-old concession in the eastern part of Saudia Arabia, the only remaining one held by a foreign company, was set to expire early Monday.

This means that there will be no non-Saudi companies heading up the oilfield work.

Arabian Oil pumps an average of 300,000 barrels of oil a day from the Kafji oil field. Though the company has drilling rights in Kuwait, the loss is expected to halve its sales.

3. Norway Makes No Promises to U.S. on Increasing Oil Flows

By Doug Mellgren Associated Press Writer

OSLO, Norway (AP) - Norway made no promise to increase oil production when U.S. Secretary of Energy Bill Richardson visited the Nordic country Sunday to express concern about high energy prices.

Norway is the world's second-largest oil exporter. Although the nation of 4.5 million is not a member of the Organization of Petroleum Exporting Countries, it has joined the group's efforts to reduce supplies, causing world prices to nearly triple.

[snip]

Norway, an ally of the United States through NATO, is so dependent on oil revenues that its need for high prices conflicts with the United State's need for affordable oil as a major importer.

-- rocky (rknolls@no.spam), February 27, 2000

-- (0@0.0), February 27, 2000.

Three oil articles in the news today. None of them indicate that the flood gates will open and well be awash in oil.

1. Iraq Urges Oil Countries Not to Heed U.S. Pleas to Raise Output

By Leon Barkho Associated Press Writer

BAGHDAD, Iraq (AP) - The United States has no right to pressure oil-producing countries to raise output in order to bring down the price of crude on global markets, Iraq's oil minister said Sunday.

"We consider this unwarranted and unjustified, and it is an overreaction by the American administration," Oil Minister Amer Mohammed Rashid said in response to a U.S. bid to persuade Gulf oil producers to loosen reins on output.

Rashid urged his partners in the Organization of Petroleum Exporting Countries not to yield to American pressure.

[snip]

Did we expect Iraq to rush in to send us oil?

2. Report: Japanese Oil Company Fails to Renew Saudi Concession

The Associated Press

TOKYO (AP) - Japan's biggest oil producer failed to reach an agreement with Saudi Arabia to renew an oil concession set to expire early Monday, Japan's trade minister said Sunday, according to news reports. [snip]

Arabian Oil's 42-year-old concession in the eastern part of Saudia Arabia, the only remaining one held by a foreign company, was set to expire early Monday.

This means that there will be no non-Saudi companies heading up the oilfield work.

Arabian Oil pumps an average of 300,000 barrels of oil a day from the Kafji oil field. Though the company has drilling rights in Kuwait, the loss is expected to halve its sales.

3. Norway Makes No Promises to U.S. on Increasing Oil Flows

By Doug Mellgren Associated Press Writer

OSLO, Norway (AP) - Norway made no promise to increase oil production when U.S. Secretary of Energy Bill Richardson visited the Nordic country Sunday to express concern about high energy prices.

Norway is the world's second-largest oil exporter. Although the nation of 4.5 million is not a member of the Organization of Petroleum Exporting Countries, it has joined the group's efforts to reduce supplies, causing world prices to nearly triple.

[snip]

Norway, an ally of the United States through NATO, is so dependent on oil revenues that its need for high prices conflicts with the United State's need for affordable oil as a major importer.

-- (try@it.again), February 27, 2000.

bold off until everyone agrees though. If it stayed like that I don't know what we would use for emphasis...italics maybe?

-- canthappen (n@ysayer.com), February 27, 2000.