• Short Summary

    On Monday (18 December) the dollar fell on the world's money markets in the wake of the unexpectedly high rise in crude oil prices announced at the weekend by members of the Organisation of Petroleum Exporting countries (OPEC).

  • Description

    On Monday (18 December) the dollar fell on the world's money markets in the wake of the unexpectedly high rise in crude oil prices announced at the weekend by members of the Organisation of Petroleum Exporting countries (OPEC). The price will go up by 14.5 percent in stages over the next 12 months. In an effort to offset currency fluctuations, OPEC announced that the price rise would be instituted in stages. OPEC warned also that if the currency turmoil continued, the 13 member countries would find it imperative to adjust fully for the effects of inflation and dollar depreciation.

    SYNOPSIS: The Saudi Arabian Oil Minister Sheikh Ahmed Zaki Yamani defended the price rise.

  • Tags

  • Data

    Film ID:
    VLVADU5R3VIC8XYOJ4SE4AF0HWI5W
    Media URN:
    VLVADU5R3VIC8XYOJ4SE4AF0HWI5W
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    18/12/1978
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:48:00
    Time in/Out:
    /
    Canister:
    N/A

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