Urgent oil talks
NZPA-Reuter London Top oil companies have launched urgent talks to draw up ways to save the tottering North Sea spot market from collapse following the sudden plunge in world prices, traders with major oil firms said. Representatives of leading firms, including Shell International Trading Company and British Petroleum are meeting in London to try to solve the crisis in the speculative market in Britain’s Brent
crude oil and produce safeguards to protect trade in future, they told Reuters. Trading has come to a virtual standstill since last week amid allegations of fraud and default on dcsls “The temptations to default are too enormous now,” said one trader with a leading European company. “We’re dead set on making the market more secure to ensure it doesn’t disappear,” he added.
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Press, 20 February 1986, Page 26
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131Urgent oil talks Press, 20 February 1986, Page 26
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