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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.
REPORTER: Ray Brady
(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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