VENEZUELA SEES FLAT OIL PRICE DESPITE U.S. ATTACK
  World oil prices would remain stable
  despite the U.S. Attack against Iranian oil platforms and
  growing tension in the Gulf, Venezuelan Energy Minister Arturo
  Hernandez Grisanti said on Monday.
      He described the situation as "extremely tense," but said
  Gulf military activity would not significantly affect prices
  because supply and demand were roughly equal.
      Demand for OPEC crude in the final quarter of 1987 was 18.5
  mln barrels per day (bpd) and the group's members were now
  pumping above 18 mln bpd, he told a news conference.
      Hernandez Grisanti said the supply/demand balance was
  precarious and prices were in danger of falling from their
  current average of about 18 dlrs per barrel if overproduction
  continued.
      Three or four members of the 13-nation Organisation of
  Petroleum Exporting Countries were "overproducing in an
  exaggerated manner" above their assigned quotas, he said.
      OPEC's overall ceiling is 16.6 mln bpd.
  

