
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SATURDAY, March 2, 1991                   TAG: 9103020366
SECTION: NATIONAL/INTERNATIONAL                    PAGE: A-7   EDITION: METRO 
SOURCE: 
DATELINE: BRUSSELS, BELGIUM                                LENGTH: Short

GULF WAR PUTS OPEC AT A LOSS FOR CASH

The Gulf War has served as a great equalizer among OPEC nations: Saudi Arabia and Kuwait, once flush with cash, now desperately need money just like heavily indebted Nigeria and Venezuela.

"They're entering a period when even Saudi Arabia has an interest in higher prices," said Bahman Karbassioun, a Vienna-based consultant.

In the past, Saudi Arabia, Kuwait and the United Arab Emirates have turned a deaf ear to pleas for higher crude prices from poorer members in Latin America and Africa.

Kuwait's once top-of-the-line oil industry has been destroyed and will take months or even years to repair. Saudi Arabia, meanwhile, has rung up billions of dollars in war costs.

OPEC nations' desire for cash will set the tone for coming negotiations of the Organization of Petroleum Exporting Countries on production guidelines, analysts say. - Associated Press

by CNB