OPEC Talks Tough Again

Cash-strapped oil nations are threatening to cut production. But can they afford to turn off the tap?

Saudi Arabia is a land rich in oil and privileged royal princes. Yet it is so tight for cash that Crown Prince Abdullah, who is running the show for the ailing King Fahd, has boldly cut the budget. And he is reportedly sending out "Abdullahgrams" to spendthrift nephews, demanding that they reverse their habit of ignoring telephone and electricity bills or face service cutoffs like ordinary Saudis.

That's also why the monarchy's peripatetic Petroleum Minister, Ali Naimi, was trying last week to broker production cuts among major oil producers to sop up a global glut that has recently pushed prices...

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