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Oil Producers, Consumers / Oil / Money and Business News #37015

ABC Evening News for Monday, Apr 07, 1975
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(Studio) In Paris, France, representatives of major oil producing and oil consuming cntrys. lay groundwork for world energy conference later in year United States representative says conference should be confined to energy and not include raw materials.
REPORTER: Harry Reasoner

(New York City) All producers claim they must pay inflated prices for goods, but they get paid in devalued dollars. Producers want to set prices independently. Consuming cntrys. hope current world oil surplus to bring cut in prices. Saudi Arabia's oil minister, Sheik Ahmed Zaki al-Yamani thinks cut not realistic alternative. [YAMANI - thinks sizeable price reduction out of question. Price freeze probable, but prices to increase when they change, not decrease] No other consuming nations enthusiastically support United States plan for oil price floor.
REPORTER: Dan Cordtz

Reporter(s):
Cordtz, Dan;
Reasoner, Harry
Duration:
00:02:10

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