OPEC to cut oil output as markets surge on price rise
Oil prices jumped on the OPEC pact as ministers agreed to cut production 7.6 percent for the first half of 1987 and set an average price of $18 a barrel. WTI January futures rose to $17.33 on the NYME, while Brent traded at $18 in Europe, the highest in 10 months, with Iraq dissenting in the 12-1 decision taking effect January 1.
MENTIONED IN THIS ARTICLE
New York Mercantile Exchange
Europe
Britain
North Sea
OPEC
Iraq
Gasoline prices hold steady across nation in New Year period
In Los Angeles and nationwide, fuel costs remained nearly unchanged over two weeks amid fierce retailer competition. Trilby Lundberg notes price trends reflect supply and demand rather than holidays, with a Dec 19 survey averaging 84.9 cents for all grades including tax. Regular unleaded averaged 76.6 cents, regular leaded 71.91 cents, and premium 91.16 cents.
MENTIONED IN THIS ARTICLE
Trilby Lundberg
Lundberg Survey
Lundberg
Travel advisory extended by NWS in Midland region
The National Weather Service at Midland Regional Airport extended a travelers advisory through tonight due to continuing snow and near freezing temperatures. Forecasters reduced rain chances, predicting less than 2 inches of mix, with a high near 40 and tonight’s low around 33. Odessa police logged more weather related accidents, while Midland flights continued operating on schedule.
MENTIONED IN THIS ARTICLE
National Weather Service
Midland
Eddie Brite
NWS Weather Service
NWS
Brite
Civilians Killed in Iraqi Air Raid Across Iran
Iran claimed at least 100 civilians died and many were wounded when Iraqi warplanes struck a western Iran town. IRNA reported savagely bombarded residential districts and ongoing rescue efforts. The raids followed a previous attack on Bakhtaran that killed 103 civilians. Tehran also said artillery bombarded Iraqi cities.
MENTIONED IN THIS ARTICLE
Nicosia
Cyprus
Iran
Iraq
Islamic Republic
Irna Sai
Bakhtaran
IRNA
Tehran
Immunity considered by panel leader on Iran arms probe
Senate panel chair Daniel K. Inouye says limited immunity for White House officials could be explored and Iran may be approached to uncover truths about the Iran arms sales and profit diversion to Nicaraguan rebels. He warns the inquiry could be explosive and will proceed cautiously.
MENTIONED IN THIS ARTICLE
Washington
Senate
U.S
Iran
White House
Inouye
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Geneva
Los Angeles
Door of
Herbert Wright
Door of Hope Mission
N. Lee Ave
Wright
Mission
Supermarket
Sisto Gonzales
Daniel K. Inouye
Hawaii
Senate Select Committee
ABC
David Brinkley
Oliver L. North
John Poindexter
North
Abby
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