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The Saudis lose control of oil prices.

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  • معلومة اضافية
    • الموضوع:
      ALGIERS (Algeria); ALGERIA
    • نبذة مختصرة :
      The article discusses the highlights of the midyear meeting of the Organization of Petroleum Exporting Countries (OPEC) in Algiers, Algeria that ended June 10, 1980. OPEC members, with the exception of Saudi Arabia, agreed to set two ceiling prices for their oil. Most OPEC members were scrambling to raise prices beginning July 1, 1980, including Kuwait and Venezuela, with Saudi Arabia and United Arab Emirates (UAE) as the only holdouts.