Petrol rise predicted
(.V Z P.. 4. Reuter—Copyright) BEIRUT.
Motorists in the Western world may be forced to pay more for their petrol after a decision by the oil-producing countries to seek higher prices for their crude oil to compensate for the devaluation of the United States dollar and subsequent, world currency adjustments.
A one-day Ministerial committee meeting of the Organisation of Petroleum . Exporting Countries, whose 11 members produce about ’■ 80 per cent of the oil used jin the West, agreed to 1 appoint a committee to negotiate with the oil comIpanies. It will consist of ! delegates from Iran. Kuwait, and Libya, and will be headed i by the Libyan Minister for j Oil (Mr Izzidin Mabrouk). ; “The Ministerial committee ; decided to empower the negotiating team to call or, the oil companies to begin , negotiations immediately, and to call for an extraordinary conference if they deem it necessary,’’ the communique says.
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Bibliographic details
Press, Volume CXIII, Issue 33191, 3 April 1973, Page 18
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151Petrol rise predicted Press, Volume CXIII, Issue 33191, 3 April 1973, Page 18
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