Quote of the day
"I think OPEC, led by the Gulf producers, is trying with its utmost capacity to maintain oil price stability and has actually raised production to its full capacity but there are too many disturbances around the world...Ivan struck the eastern coast of the US and we have the phenomenon of speculators who trade paper crude barrels...These speculators have pushed oil prices in a big way. Thank God nobody is blaming the Gulf producers for this increase because in reality, high oil prices cause fundamental harm to Arab Gulf producers."

(Kuwaiti Foreign Minister Sheikh Mohammed al-Sabah said, not favoring sustained high oil prices, which he blamed on the lingering impact of Hurricane Ivan and on speculators in paper barrels.)
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