OPEC affirms spring pact but argues over violations
July 19, 1983
Helsinki
Ministers from the Organization of Petroleum Exporting Countries meeting here decided to stick by the terms of their four-month-old accord, Saudi Oil Minister Ahmad Zaki Yamani said. The benchmark price will remain at $29 a barrel; the joint output ceiling will stay at 17.5 million barrels a day.
But bickering did break out over pricing and production violations. A senior delegate said Nigeria, Iran, and the United Arab Emirates have flouted their individual output quotas.
And a potential political row is still brewing over the appointment of a new OPEC secretary-general. Warring Iran and Iraq have both put forward candidates. Sources said the ministers might appoint a compromise candidate from a third country.