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UAE: $30 Barrel Will Not Trigger OPEC Action

Maritime Activity Reports, Inc.

December 9, 1999

The United Arab Emirates oil minister suggested in remarks published last Thursday that a brief spike in oil prices to $30 would not trigger a response by OPEC to raise output, because the average price for the year would still be about $18 per barrel, below prices recorded in 1996 and 1997.

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