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OPEC Oil Price War #288703

CBS Evening News for Tuesday, Feb 22, 1983
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(NYC) Current status of oil price war among 4 OPEC (Organization of Petroleum Exporting Countries) members and Mexico's anticipated price cut reported.
REPORTER: Dan Rather

(London, England) Efforts of Saudi Arabia and its allies to exert influence over other OPEC (Organization of Petroleum Exporting Countries) members to prevent international oil price war examined; options available to cartel outlined on screen, discussed. Issue of British North Sea oil explained. [Europ-Oil Prices editor Jan MASMYTH - notes possible collapse in oil pricing; explains.] Reaction of oil stkholders. described.
REPORTER: Martha Teichner

(NYC) Wall Street's response to dropping prices examined. [TRADER - notes amount of selling versus buying.] Drop in heating oil, gasoline prices today listed on screen. [Trader Michel MARKS - notes significance of day's drop.] Benefit to airlines as reflected in stks. mentioned. Probable impact of dropping oil prices on consumers discussed.

(Studio) USSR noted urging OPEC (Organization of Petroleum Exporting Countries) to unify to halt declining prices; details given.
REPORTER: Dan Rather

Brady, Ray;
Rather, Dan;
Teichner, Martha

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