Newspaper article THE JOURNAL RECORD

Oman to Host Oil Export Meeting

Newspaper article THE JOURNAL RECORD

Oman to Host Oil Export Meeting

Article excerpt

Oman to Host Oil Export Meeting

MANAMA, Bahrain _ Oman plans to host representatives of 32 oil exporting countries, including the 12 members of the Organization of Petroleum Exporting Countries, at a conference to discuss oil prices, the Gulf News Agency reported Wednesday from Muscat. The April 13 meeting is also to include the six members of the Saudi Arabian-led Gulf Cooperation Council, the agency said. The director-general of marketing at the Omani oil ministry, Rashed bin Khalid al-Barawani, said Oman will play a role in coordinating between OPEC and non-OPEC groups. The goal will be to adopt a "new petroleum policy in line with the world economic situation, and to prevent deterioration of oil prices on the world markets," he said. Clinton to Relax Lending Rules

WASHINGTON _ President Clinton announced a program to relax lending rules for healthy banks, saying it will result in "billions of dollars of economic stimulus that doesn't cost the American taxpayers one red cent." The changes, designed to make more credit available to small businesses, will be implemented within three months, officials said Wednesday. Panels Push Ahead on Clinton Budget Plans

WASHINGTON _ Democrat-led congressional panels pushed ahead on budgets bearing the heavy imprint of President Clinton but cutting spending far more than he has asked. The House and Senate budget committees worked Wednesday on similar $1.5 trillion spending plans for 1994 that would retain the essence of Clinton's month-old economic initiative: tax increases on the rich, defense cuts and more money for road-building and other projects. …

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