The price of the world's oil will rise in the new year. The Organisation of?
GV OPEC Delegates seated at conference (3 shots)
SV Iranian Oil Minister
CU Dr. Amouzegar speaking in English
SV Sheikh Yamani leaving aircraft and surrounded by police and others on tarmac (4 shots)
OPEC delegates in Doha have been haggling over price rises since the meeting began. Saudi Arabia had been calling for a price freeze while others wanted 15 per cent rises. Iranian chief delegate Dr. Jamshir Amouzegar stated his case bluntly.
"It is our considered opinion, it is our belief, it is our conviction, how stronger can I say it, that 15 per cent is not going to damage the economy of the world."
But Sheikh Ahmed Zaki Yamani left the conference and returned home to Jeddah. It seemed a theatrical move to curb extreme demands as he returned later in the day from Saudi Arabia, the richest Middle East nation. The result is a compromise -- no freeze and no 15 per cent.
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Background: The price of the world's oil will rise in the new year. The Organisation of petroleum Exporting Countries, OPEC, will raise oil prices by 10 per cent from the 1st of January for 11 of its 13 members. The other two members, Saudi Arabia and the United Arab Emirates, will only apply for a five per cent increase, it was announced in Qatar on Thursday (16 December).