Oil deal stands
NZPA-Reuter Geneva O.P.E.C. Oil Ministers prepared to wind up three days of talks in Geneva today after a deadlockbreaking decision yesterday to stick to current prices and output levels in the face of a slackening world petroleum market. They said yesterday that they had agreed to keep to a deal hammered out in London in March that set a SUS 29 a barrel market price and a joint output ceiling of 17.5 million barrels a day. “We reached an agreement on the same price and same ceiling as the London agreement. We reaffirmed the London agreement,” said the Saudi Oil Minister, Sheikh Ahmed Zaki Yamani. The Iranian Oil Minister, Mr Muhammad Gharazi, who went to Geneva demanding that the price should be increased SUSS a barrel, said that he accepted the decision to keep it pegged.
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Press, 10 December 1983, Page 10
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139Oil deal stands Press, 10 December 1983, Page 10
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