• Short Summary

    The failure of the 13 OPEC oil minsters to agree on a price rise for 1978 will have the effect of freezing prices for at least six months.

  • Description

    The failure of the 13 OPEC oil minsters to agree on a price rise for 1978 will have the effect of freezing prices for at least six months. The oil ministers agreed to postpone further discussion of their joint policy until they meet again in June. Until then the price of oil will remain at its present level of 12.70 US dollars for a barrel of standard Middle East crude. It was Saudi Arabia and Iran, the world's largest producers, backed by the United Arab emirates, Kuwait and Qatar who blocked the move for the higher prices.

    SYNOPSIS: The discussions had been long and bitter. At the press conference afterwards OPEC Secretary General Ali M. Jaidah and OPEC Chairman Qatar Oil Minister Abdul Aziz bin Khalifa Al-Thani answered newsmen's questions.

  • Tags

  • Data

    Film ID:
    VLVA7X8N7E78KPUCG2T4LP5RLA551
    Media URN:
    VLVA7X8N7E78KPUCG2T4LP5RLA551
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    22/12/1977
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:34:00
    Time in/Out:
    /
    Canister:
    N/A

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