Sunday, June 5, 2011

OPEC Overshadowed by Qaddafi in Most-Hostile Meeting Since 1990 Gulf War - Bloomberg

OPEC Overshadowed by Qaddafi in Most-Hostile Meeting Since 1990 Gulf War - Bloomberg: "OPEC ministers meeting in Vienna this week may find themselves supporting opposing camps of a military conflict for the first time in 21 years, with hostilities in Libya complicating an agreement on oil quotas.

Not since Saddam Hussein invaded Kuwait in 1990 has the producer group gathered with some nations giving financial and military support to a movement seeking to topple the government of a fellow member. While Libyan leader Muammar Qaddafi is trying to quash a rebellion in a country that holds Africa’s largest crude reserves, Qatar, Kuwait and the United Arab Emirates are backing the insurgents."

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