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Oil Industry United Arab Emirates

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BUSINESS
July 14, 1990 | From Times Staff and Wire Reports
The United Arab Emirates, whose overproduction led to the current world glut of crude oil and a 30% drop in prices, said it will start cutting daily output immediately by up to 500,000 barrels . . . The Investment Company Institute reported that the assets of the nation's 512 money market mutual funds increased $3.10 billion to $385.83 billion for the week ended July 11.
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NEWS
July 20, 1990 | NICK B. WILLIAMS Jr., TIMES STAFF WRITER
Iraq's bellicose Saddam Hussein, bolstered Thursday by a parliamentary proposal that he be elected president for life, has shaken his Persian Gulf neighbors with threats and accusations just before a price-setting meeting of the Organization of Petroleum Exporting Countries.
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NEWS
July 20, 1990 | NICK B. WILLIAMS Jr., TIMES STAFF WRITER
Iraq's bellicose Saddam Hussein, bolstered Thursday by a parliamentary proposal that he be elected president for life, has shaken his Persian Gulf neighbors with threats and accusations just before a price-setting meeting of the Organization of Petroleum Exporting Countries.
BUSINESS
July 14, 1990 | From Times Staff and Wire Reports
The United Arab Emirates, whose overproduction led to the current world glut of crude oil and a 30% drop in prices, said it will start cutting daily output immediately by up to 500,000 barrels . . . The Investment Company Institute reported that the assets of the nation's 512 money market mutual funds increased $3.10 billion to $385.83 billion for the week ended July 11.
BUSINESS
July 12, 1988 | From Staff and Wire Reports
Oil prices resumed their slide Monday, and OPEC announced it was dispatching the cartel's new secretary general to talk with leaders of the United Arab Emirates about turning down their oil spigot. Crude prices tumbled 68 cents a barrel to the lowest close since late 1986, hurt by a selloff that traders blamed on too much supply and renewed skepticism about OPEC's ability to restrain production. The decline to $14.
BUSINESS
June 30, 1988 | From Reuters
The United Arab Emirates has carried out a threat to ignore its OPEC quota and authorized companies to pump almost 20% more oil in July, industry sources said Wednesday. "This should bring (oil) prices down very quickly," said one trader. "It is yet another link in the chain of disarray which is creeping into OPEC." OPEC members at their Vienna meeting earlier this month agreed to extend the group's 15.
BUSINESS
August 31, 1989 | From Reuters
A power play by Kuwait, a key OPEC member producing above its assigned output quota, risks sparking a slide in oil prices, a source close to the Organization of Petroleum Exporting Countries said. According to the source, several members of the 13-nation group "are now very concerned" about excess output by Kuwait and other members.
BUSINESS
August 31, 1989 | From Reuters
A power play by Kuwait, a key OPEC member producing above its assigned output quota, risks sparking a slide in oil prices, a source close to the Organization of Petroleum Exporting Countries said. According to the source, several members of the 13-nation group "are now very concerned" about excess output by Kuwait and other members.
BUSINESS
July 12, 1988 | From Staff and Wire Reports
Oil prices resumed their slide Monday, and OPEC announced it was dispatching the cartel's new secretary general to talk with leaders of the United Arab Emirates about turning down their oil spigot. Crude prices tumbled 68 cents a barrel to the lowest close since late 1986, hurt by a selloff that traders blamed on too much supply and renewed skepticism about OPEC's ability to restrain production. The decline to $14.
BUSINESS
June 30, 1988 | From Reuters
The United Arab Emirates has carried out a threat to ignore its OPEC quota and authorized companies to pump almost 20% more oil in July, industry sources said Wednesday. "This should bring (oil) prices down very quickly," said one trader. "It is yet another link in the chain of disarray which is creeping into OPEC." OPEC members at their Vienna meeting earlier this month agreed to extend the group's 15.
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