|Oil : Iran and Libya refuse to follow Iraq
|They want a unanimous support from the other Arab and Moslems countries.
The Organization of Petroleum Exporting Countries (OPEC) ensured Wednesday that neither Iran nor Libya would join Iraq, which decided Monday to suspend during 30 days its crude exports.
Iran and Libya would have let know that they would only join the boycotting decided by Baghdad "if the other Arab or Moslem countries decided to take share there", indicated a source close to the Organization in Vienna. According to this source, this possibility is not "not possible".
The boycotting decided by Iraq as a sign of protest against the Israeli military offensive in the West Bank "does not serve the Palestinian cause", still estimated the source, adding that OPEC as such remained opposite "with any form of oil embargo".
Estimating that Hussein "became Master to play with the affects of the masses in the Arab countries", the source affirms: "Actually, the Iraqi decision does not constitute a solution for the Palestinians with whom, naturally, we sympathize".
"We do not expect that the oil prices are maintained to 26-27 dollars the barrel, except if something of dramatic came to occur" to the Middle East, the source added, while pointing out that the middle price of "basket OPEC" had lowered Tuesday.
The middle price of the "basket OPEC", which is composed of seven world crudes and is used for the adjustment of the production of the Organization, passed to 24, 25 dollars the barrel Tuesday against 25,13 dollars Monday, reported yesterday the OPECNA, the news service of the trust received in the Austrian capital. For the markets, the question is to know if the members of OPEC would be ready to compensate the lack of Iraqi crude, evaluated to approximately 2 million barrels per day.
The American president George W Bush expressed his fears that the oil prices blaze does not block the American economic revival and declared itself ready to consider a series "of options" after the suspension of Iraqi crude exports.
Synthesis The Economist