Saudi Oil Minister Sees Price Cut

Saudi Arabian Oil Minister Sheikh Ahmed Zaki Yamani, in an interview published today, predicted that a global price war may erupt next year that could cause the cost of crude oil to drop as much as $10 a barrel to $20.

Yamani told the International Herald Tribune that a price war could be averted if producers around the world restrain production before an expected seasonal drop in demand next spring or summer. But he said non-OPEC producers did not seem ready for such cooperation.