• Short Summary

    Energy Ministers of the oil-consuming countries agreed on Tuesday (9 December), to draw on stocks over the next few months to curb demand for imported oil.

  • Description

    1.
    GV EXTERIOR OF OECD building in Paris used for meeting
    0.03

    2.
    GV Delegates arriving (3 shots)
    0.19

    3.
    SV President of the IEA Committee, Charles Duncan sitting
    0.22

    4.
    SV Secretary-General Van Lennep and Committee Director Miyazaki
    0.26

    5.
    SV German representative
    0.29

    6.
    SV Japanese representative
    0.32

    7.
    SV New Zealand representative
    0.35

    8.
    SV Australian delegates PAN TO Austrian delegates
    0.38

    9.
    SV Netherlands delegates
    0.42

    10.
    SV UK delegates
    0.46

    11.
    SV Portuguese delegates
    0.50

    12.
    SV Greek delegates
    0.53

    13.
    SV Canadian delegates
    0.56

    14.
    SV US delegate TO Spanish delegates
    1.00

    15.
    LV Delegates seated at table
    1.04




    Initials AM





    Script is copyright Reuters Limited. All rights reserved

    Background: Energy Ministers of the oil-consuming countries agreed on Tuesday (9 December), to draw on stocks over the next few months to curb demand for imported oil. They hoped this would help prevent major price increases being made at next week's OPEC (Organisation of Petroleum Exporting Countries) meeting in Indonesia.

    SYNOPSIS: In Paris, energy ministers and delegations arrived for the 21-nation meeting of the International Energy Agency. Oil-consuming countries resolved to draw much more heavily on stocks to curb demand for imported oil. They hoped their action would prevent major price increases being made at the OPEC meeting. Ministers said their governments would cut demand for oil by ten percent in the first three months of next year. They hoped their decision would relieve pressure on the market, hit by the loss of Iraqi and Iranian exports because of the Gulf war.

    The meeting agreed the health of the world's economy depends to a large extent on oil price stability. They noted the economic recovery foreseen for 1981 is uncertain and a large oil price increase would almost surely destroy chances for recovery. They said countries with relatively high stocks of supplies would help those with scarce reserves and encourage oil companies to do the same.

  • Tags

  • Data

    Film ID:
    VLVA6DPTCO9NRYTSNF2E6KN8GT00B
    Media URN:
    VLVA6DPTCO9NRYTSNF2E6KN8GT00B
    Group:
    Reuters - Including Visnews
    Archive:
    Reuters
    Issue Date:
    10/12/1980
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:04:00
    Time in/Out:
    /
    Canister:
    N/A

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