• Short Summary

    The executive Board of the International Energy agency (I.E.A.) agreed in Paris on Friday (19?

  • Description

    The executive Board of the International Energy agency (I.E.A.) agreed in Paris on Friday (19 December) to propose to member governments a minimum oil price of seven dollars (3.46 pounds sterling) per barrel
    The floor level proposal came a few hours after the International Conference on Energy and Raw Materials wound up bits three-day ministerial conference in the French capital with an agreement to set up four negotiating commissions to tackle the world's major economic problems
    Many oil-producing nations have opposed the setting of an oil floor price as an unwarranted threat to control over their own resources. Executive Board chairman, M. Etienne Davignon stressed that the decision was still subject to ratification by member governments
    The I.E.A. includes all the major western industrial nations, except France, which refused to join on the grounds that the group is hostile to Arab oil exporting countries
    Friday's decision is seen as a relief to the British government which has pressed hard for a minimum price to protect its North Sea oil interests
    Speaking on the seven dollar figure, M. Davignon emphasised that this was not intended as the price at which consumer countries would like to see world oil prices fixed at the moment
    SYNOPSIS: The Executive Board of the International Energy Agency, meeting in Paris on Friday, agreed to propose a minimum price of seven dollars a barrel for oil. The Agency includes all the major western industrial countries, except France which sees the group as hostile to Arab oil interests
    Member governments still have to ratify the floor level proposal, which came only a few hours after the International Conference on Energy and Raw Materials ended in the French capital.Oil was the focal issue of the three-day meeting
    Executive Board chairman, Monsieur Etienne Davignon told reporters later that the seven dollar figure was not intended as the price consumer countries would like to see current. It's considered unlikely to sink to that level in the foreseeable future

  • Tags

  • Data

    Film ID:
    VLVAI6YW7PYODQHQQ823Q9IEK422
    Media URN:
    VLVAI6YW7PYODQHQQ823Q9IEK422
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    20/12/1975
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:00:54:00
    Time in/Out:
    /
    Canister:
    N/A

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