Oil exporters refute U.S. oil dumping claims

Venezuela, Mexico, and Saudi Arabia are protesting allegations levied against them and Iraq that the oil exporters dumped cheap crude oil supplies on the U.S. market, ostensibly resulting in some U.S. oil producers being driven out of business.The protests came in response to petitions that Save Domestic Oil Inc. (SDO) has filed with the U.S. Department of Commerce and the International Trade Commission.Mexican Energy Minister Luis Tellez said Mexico, Venezuela, and Saudi Arabia would join together to fight the accusations, asserted by SDO on behalf of U.S. independent producers (OGJ, May 17, 1999, p. 35). The three countries were the main architects of multilateral oil production cutback...

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