• Short Summary

    INTRODUCTION: Several important members of OPEC -- the Organisation of Oil Exporting Countries -- have been discussing the reduction of Saudi Arabia's huge oil output of over 10 million barrels a day.

  • Description

    (MUTE)


    1.
    SV INTERIOR Oil Ministers seated in conference room
    0.04

    2.
    SV Sheikh Ahmed Zaki Yamani, Saudi Minister of Petroleum and Mineral Resources
    0.10

    3.
    SV Kuwaiti Oil Minister, Sheikh Ali Al Khalifa Alsabah
    0.15

    4.
    SV United Emirates Minister of Petroleum Dr. Mana Saeed Al Otaiban
    0.20

    5.
    SV Bahzeini Minister of Development and Industry, Mr. Yussef Al Shirawi
    0.24

    6.
    SV Iraqi Oil Minister Mr. Tayeh Abdul Kari
    0.27

    7.
    SV Algerian Oil Minister Mr. Ralqacem Nabj
    0.31

    8.
    SV Libyan Oil Minister Mr. Abdul Salam Zagmar
    0.35

    9.
    SV PAN Delegates at meeting
    0.55




    Initials BB





    Script is copyright Reuters Limited. All rights reserved

    Background: INTRODUCTION: Several important members of OPEC -- the Organisation of Oil Exporting Countries -- have been discussing the reduction of Saudi Arabia's huge oil output of over 10 million barrels a day. This near record production has been kept up by the Saudi to try and force down the higher OPEC prices and prepare the way for a unified pricing system. An attempt to solve the problem was made by a deputation of Arab oil ministers on Thursday (16 July) at a surprise meeting in Taiz. Saudi Arabia's summer capital.

    SYNOPSIS: No details of any agreement were disclosed after the talks between Saudi Oil Minister Ahmed Zaki Yamani and ministers from Kuwait, the United Arab Emirates, Bahrein, Iraq, Algeria and the Libyan Jamahiriyah. The high Saudi production has forced most other OPEC countries to cut production but the majority have refused to reduce prices. Some of them are beginning to be seriously affected by falling revenues.

    Saudi oil at 32 U.S. dollars a barrel is cheaper than that sold by other OPEC countries. Their sales have been reduced in a market hit by recession and the drive by industrialised countries to switch to less expensive forms of energy. OPEC's total output, recently close to 30 million barrels a day, is down to about 22 million. Saudi Arabia alone is keeping up a high production.

  • Tags

  • Data

    Film ID:
    VLVAC3EVR6WHJAFLSW2YPU4FEBSGW
    Media URN:
    VLVAC3EVR6WHJAFLSW2YPU4FEBSGW
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    17/07/1981
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:00:55:00
    Time in/Out:
    /
    Canister:
    N/A

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