Saudi Arabian Oil Minister, Sheikh Yamani has described the recent OPEC Conference as a victory for moderation.
GV: Elysee Palace
SV: PAN: Sheikh Yamani arriving at palace (2 shots)
SV AND SCU: Yamani talking to newsmen in English (2 shots)
REPORTER:"One of the comments about Caracas was that Caracas was a defeat for the moderation of Saudi Arabia. What do you think about that?"
YAMANI:"We will have to wait and see whether it was a victory or defeat. I think it was a victory, but time will show that this is a fact."
REPORTER:"What is your point of view about the situation right now in Iran?"
YAMANI:"Well, we hope that nothing will happen in Iran. Iran is an important neighbour to us, and we would hate to see any interruption or political disturbances in this important country to us."
REPORTER:"What do you think about possible economic sanction imposed against Iran."
YAMANI:"Well, the situation is very tense, and a lot of emotions are involved on both sides. We hope that by wisdom and patience this problem will be solved amicably."
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Background: Saudi Arabian Oil Minister, Sheikh Yamani has described the recent OPEC Conference as a victory for moderation. But he says the world will have to wait and see whether that's correct.Sheikh Yamani was speaking in Paris where he met with French President Giscard d'Estaing.
SYNOPSIS: The meeting was held at the Elysee Palace. Sheikh yamani stopped in Paris on his way back from the OPEC Conference in Venezuela. The conference ended with the failure of the OPEC countries to agree on new oil prices for 1980. Sheikh Yamani, who'd been calling for price moderation told reporters it was a victory. He's also predicted an oil glut next year and a drop in prices.