OGJ NEWSLETTER

The brief prospect of civil war following a coup in the Soviet Union last week (see story, p. 27) has left markets reassessing the outlook for a return of Kuwaiti/Iraqi oil exports. Although the threatened loss of as much as 1.5 million b/d of Soviet oil exports was short lived with Gorbachev's quick return to power, the scare was enough to bring under scrutiny Iraq's rejection of conditions for a U.N. controlled sale of $1.6 billion worth of oil to fund purchase of food and medicine.

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