Iraq mulls oil production hike

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Monday, March 20, 2000 Iraq mulls oil production hike

By AP BAGHDAD -- Iraq will consider increasing oil production when the issue is discussed at the OPEC meeting later this month, the Iraqi oil minister said yesterday, easing the country's tough stand on maintaining production levels.

Amir Mohammed Rashid made the remarks after meeting with visiting Venezuelan Oil Minister Ali Rodriguez.

Iraq will consider an increase depending on "the present demand and our capabilities," Rashid said.

Rodriguez was in Iran on Saturday, where he met with Iranian Oil Minister Bijan Namdar Zanganeh. He also plans to visit Kuwait, Algeria and Libya.

His talks come in advance of the March 27 ministerial meeting in Vienna of the members of the Organization of Petroleum Exporting Countries.

OPEC will discuss an increase designed to reduce oil prices that have reached nine-year highs.

The United States has been lobbying producers inside the cartel to raise production to control high prices. President Bill Clinton called his Venezuelan counterpart to ask him to boost petroleum production, Venezuela President Hugo Chavez said yesterday.

Clinton -- under political pressure in the U.S. over soaring gas prices -- has recently stepped up efforts to persuade OPEC members to pump more oil into the market.

Chavez did not go into the details of the conversation in his weekly radio program.

But he said he told Clinton he was willing to listen to concerns over oil prices. In return, he asked Clinton to lend an ear to Venezuela's concern about poverty and foreign debt.

http://www.canoe.ca/OttawaNews/OS.OS-03-20-0032.html

-- Martin Thompson (mthom1927@aol.com), March 20, 2000


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