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Oil Industry / OPEC Meeting #243843

CBS Evening News for Thursday, Dec 16, 1976
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(Studio) Split over price increases disrupts solidarity of OPEC. From meeting in Qatar, reports say 11 ntns. will increase prices 10% on January 1 and Saudi Arabia and United Arab Emirates will increase 5%. Effect on United States gas prices noted.
REPORTER: Walter Cronkite

(Qatar) Saudi Arabia was alone in requesting price freeze for at least 6 mos. because of world economy Deadlock serious enough for Saudi oil minister Ahmed Zaki Yamani to leave conference to go home and consult with government mbrs. Saudis have little room to maneuver. [Qatar oil minister Abdel Aziz al-THANI - says increase is sure; will be 10-15%.] Ldrs. for big increase are Venezuela, Iran, Iraq and Libya. [Iran oil minister Jamshid AMOUZEGAR - says 15% increase won't damage economy of West.] Yamani returns tonight.
REPORTER: Bill McLaughlin

Reporter(s):
Cronkite, Walter;
McLaughlin, Bill
Duration:
00:02:30

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