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OPEC Conference #262796

CBS Evening News for Tuesday, Mar 27, 1979
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(Studio) Oil price increase voted into effect by OPEC (Organization of Petroleum Exporting Countries) conference in Geneva said to begin Sunday; details given. Freedom of choice with regard to surcharge by mbrs. cited.
REPORTER: Walter Cronkite

(Geneva, Switzerland) Large price hikes said sought by Iran, Iraq, Libya, Algeria; Saudi Arabia's press for moderation noted. Announcement by OPEC (Organization of Petroleum Exporting Countries) secretary general Rene Ortiz of Ecuador with regard to increase detailed. Films shown. Additional surcharges' effect on future oil imports of West Europe, US and Japan considered.
REPORTER: Bert Quint

(Studio) Incrd. gasoline prices as result of OPEC (Organization of Petroleum Exporting Countries) action noted.
REPORTER: Walter Cronkite

(DC) Admin. response to hike quoted; [Senator Henry JACKSON - calls OPEC action greedy and punitive.] 1978 OPEC (Organization of Petroleum Exporting Countries) prices compared on screen with those of January 1979 and expected prices for April 1979. Incr. in gasoline prices since January 1979 detailed. Further gasoline price hikes due to OPEC (Organization of Petroleum Exporting Countries) decision with regard to surcharges considered.
REPORTER: Nelson Benton

(Studio) New OPEC (Organization of Petroleum Exporting Countries) price said to amount to 708% increase over that chgd. in 1960 when group was formed.
REPORTER: Walter Cronkite

Reporter(s):
Benton, Nelson;
Cronkite, Walter;
Quint, Bert
Duration:
00:04:00

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