Oct 21, 2001, 12:01 AM
News Code: 9032530
0 Persons
daily :prices OPEC in slumps further against guard must Iran Sunday, on editorial its in News,' `Iran -- IRNA 21, Oct Tehran, more trigger could prices oil in slumps further concern expressed .economy Iranian the for difficulties by production oil in cut a for rally to government the urged It a saying ,(OPEC) Countries Exporting Petroleum of Organization the cartel's the for disaster spell could supply oil global in glut .prices depressed already too all looks recovery long-term circumstances, present Under and Europe in starting already is that recession the of view in bleak .daily English-language the out pointed America, British and .S.U ongoing the crisis, East Middle escalating The uncertainty prevailing the and Afghanistan against reprisals military the noted slump, to prices oil global causing is outlook economic in year, this percent 6.2" being as output world in growth citing daily, global in decline steep The ".year last percent 7.4 to compared oil global in slump the to contributed also has demand consumer .noted daily the demand, is 11 September of attacks terrorist the of effects damaging The off laid has which industry travel air global the in visible most in drop a in resulting flights many cut and employees of thousands .noted it demand, fuel airline in growth industrial the in drop the that opines also article The unstable the with along prices oil affected also has Asia Southeast .world the over all climate political mechanism pricing automatic an created OPEC the that noted It prevent to supposed is which year last Vienna in meeting its during spiralling from or barrel a 22 dlrs below to dipping from prices .mark 28 dlrs the beyong barrel a 18 dlrs to dropped has crude OPEC of price the However, regretted situation, the remedy to able been not has cartel the but .daily the the on effects their and developments recent fears expressed It .war price a trigger could market oil international volatile highly production higher as more even suffer would world the event, that In global the depress further could prices crude higher from costs .daily the predicted economy, the for sympathy expressing in community international the Joining production lower to refused OPEC attacks, 11 September the of victims .out pointed daily the prices, raise thereby and and threatened is lifeline our that now idle stand to we Are" But, .paper the asked "risk? at is income national our our pin and market the of whims the to surrender not should We" .added it "nations, non-OPEC the on hopes of years consecutive three stem to nothing did nations Those oil determine should forces market free claiming prices oil slumping .daily the blasted prices, to fails Iran and continue to allowed are circumstances current If adopt to forced be would it production oil cut to OPEC persuade more avert to plans contingency as well as strategies alternative .daily the concluded people, suffering already an on pressure FH/LS/HM End