The Chronicle Telegram in Elyria, Ohio

OPEC agrees unified price to impact Western oil costs

OPEC ministers reach a unified base price of 34 per barrel for 1981 and 1982, with 12 members cutting from 36 to 34 while Saudi Arabia raises to 34. The move could lift U.S. gasoline and home heating oil prices by up to three cents per gallon, though some experts call the plan a long term stabilizer for Western consumers. Saudi Arabia’s Yamani hailed it as a breathing spell amid weak economies. In Detroit, Chrysler reports a Q3 loss of 149 million while GM and Ford also post large third quarter losses, though Chrysler claims improving performance amid restructuring.