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Oil exporters plan long range price freeze at summit
OPEC nations opened a conference in Algiers with a plan to negotiate a long range oil price freeze with Western countries. The draft final declaration urged minimum price guarantees, more foreign investment, monetary reform, and aid for underdeveloped nations. Boumedienne suggested possible price cuts or freezes until 1980 if needed. Several key members skipped the talks, reflecting internal cartel tensions.
MENTIONED IN THIS ARTICLE
Algiers
UPI
Organization of Petroleum Countries
Pene
Houari
Sas
Fac
Boumedienne
Hut Ft
International Energy Agency
OPEC
Troven
West
Saudi Arabia
Libya
Nigeria
Iraq
Indonesia
Jeeeutsl Possi