Kuwaiti oil-price cut hint
NZPA-Reuter Kuwait The Kuwaiti Oil Minister (Sheikh Ali Khalifa Sabah) ♦said yesterday that his country. might cut its oil price to compete in the world market but it would not give, in to pressure from oil companies; to do so. ' ; Kuwait cut its price to $33 a barrel from $35.50 under an . Organisation of Petroleum Exporting Countries price unification agreement in Geneva on October 29. But its main customers argue, that its oil, relatively heavy, high-sulphur crude, is still too expensive compared with other OP.E.C. crudes. Gulf oil analysts said those customers sought a cut to $32 or .$32.50 a barrel. Kuwait’s crude oil customers include Shell Oil. British Petroleum, Gulf Oil Corporation, and several Japanese companies. O.P.E.C. Oil Ministers are due to meet in Abu Dhabi on Thursday, and analysts said a range of oil prices to take account of qualities would top the agenda.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19811207.2.64.7
Bibliographic details
Press, 7 December 1981, Page 8
Word Count
150Kuwaiti oil-price cut hint Press, 7 December 1981, Page 8
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in