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OPEC oil price falls
to less than 24 US dollars per barrel
The crude oil price
controlled by the Organization of the Petroleum
Exporting Countries (OPEC) fell and was kept under
24 US dollars per barrel in the past four days,
statistics released here showed.
The Vienna-based OPEC
Secretariat said in a report that OPEC's reference
price basket of seven of its crudes reached 23.85 US
dollars per barrel on Friday, although rose 13 cents
than Thursday, but still below the cartel's central
25 dollar target.
The report came after
the OPEC cartel signaled last week its determination
to stop prices from falling below its target range.
In an OPEC meeting
held here on April 24, the cartel agreed to cut back
its daily production to 25.4 million barrels from a
surge in production to cover for the halt in Iraqi
exports.
Prices are recovering
from five-month lows hit after the meeting but still
staying far away from reaching OPEC's expectation.
On Friday, US crude
futures reached 25.67 dollars per barrel and in
London, benchmark Brent crude dropped 18 cents to
23.54 dollars per barrel.
Prices were kept
below the cartel's central 25 dollars, worrying some
OPEC members. OPEC President Abdullah al-Attiyah
said on Wednesday that the cartel was worried by the
price drop and that ministers were consulting on how
to intervene to prevent prices from falling any
further.
But industrialized
nations hope the recent fall in oil prices will help
kick-start slow economic growth. Economists say
OPEC's 25-dollar-per-barrel target price works for
both producers and consumers.
Opposition Tories
replaces Labor as largest party in UK local councils
British Prime
Minister Tony Blair has suffered a post-Iraq war
electoral setback as his Labor party lost a total of
833 seats in local councils across the country in
the most important set of local elections for four
years.
Opposition
Conservatives are now the largest party in Britain's
local councils, with about 34 percent of the vote in
the local polls in England, Scotland and Wales, in
compared with 30 percent for both the Labor Party
and the second largest opposition Liberal Democrats,
showed the final results late Friday.
Among the 11,800
seats contested in 308 English local councils, Labor
was down 833 seats to 3,001 seats, Conservative up
566 to 4,423 seats while the anti-Iraq war Liberal
Democrats strengthened its third place position with
an additional 193 seats.
Labor remained the
biggest single party in the polls to the Scottish
parliament while took half the 60 seats in the Welsh
regional assembly.
The far-right British
National Party (BNP) gained a total of 16seats in
northwestern England, performing its strongest
showing to date.
BNP also became the
second largest party behind Labor on the local
council in Burley, a town torn by race riots two
years ago. Conservative leader Iain Duncan Smith
hailed on Friday that his party had won a
"spectacular victory" in the local polls
held Thursday.
"Our task for
the next two to three years is to show people how we
can repeat this on a national level,"
Conservative chairwoman Theresa May added.
Some local analysts
regarded Labor's reverse as a protest against
Blair's choice as the staunchest ally of the United
States on Iraq, which is deeply unpopular with many
traditional Labor supporters.
Many Britons also
complain that local taxes for services, such as
schools and garbage collection, have risen steeply
but Blair's attempts to improve health service,
education and public transport were still limited,
they noted.
However, it seems
Blair only suffered moderate losses in general and
there was little sign of a threat to his supremacy.
Heneed not face a general election until 2006.
"There's not a
government in history that has not had a bad
midterm, even as good a government as this
one," Labor Chairman Ian McCartney defended in
an interview with BBC radio.
There were more than
38 million eligible voters across Britain. However,
voter turnout was estimated at only 34 percent in
England,38 percent in Wales and less than 50 percent
in Scotland.
Electoral Commission
figures suggested voter turnout in districts using
all-postal ballots averaged 44 percent, up 10 points
on the last elections in those areas.
US terminates
Operation Northern Watch in Turkey
The US military on
Thursday put an end to Operation Northern Watch in
Turkey amid speculations that Washington might shift
its strategic focus in the region from Turkey to
Iraq.
The US military
wrapped up Operation Northern Watch at the Incirlik
Air Base in the southern Adana province, from where
it has already withdrawn some 50 warplanes,
refueling aircraft and 1,400 personnel.
However, more than
1,000 US soldiers serving under a NATO mission will
remain at the base. The US military is expected to
establish bases in Iraq.
US officials said the
outcome of the Iraq war had made unnecessary
missions by US and British planes from the Incirlik
Airbase to enforce the "no-fly zone" in
northern Iraq .
The base was also a
key staging point during the 1991 Gulf War.
A ceremony to mark
the end of the northern exclusive zone in Iraq was
attended by Turkish Air Forces Commander Gen. Cumhur
Asparuk, US European Forces Command Deputy Commander
Gen. Charles Wald, Adana Governor Kemal Onal, as
well as US Ambassador to Turkey Robert Pearson and
British Ambassador to Turkey Peter Westmacott.
Operation Northern
Watch started on January 1, 1997.
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