/ 19 April 2000

OIL DOWN AS OPEC COMPLIANCE FALLS

OIL prices in Asia fell on Monday bon an extended bout of profit-taking and on news that Iran has raised its output by a substantial amount in March. New York Mercantile Exchange (NYMEX) crude futures were trading at $25,10 per barrel, dropping 47 cents from its close in New York on Friday. Traders said some participants are pocketing profits, after market gains last week, amid weaker sentiment on news that Iran may have raised production from March.