VOL. XXXI

NO. 8

30-NOVEMBER-1987

OPEC AND OIL PRICES

Saudi Arabia Rejects Price Increase

A statement by an Iranian oil official to the effect that a consensus isemerging in OPEC on a price increase at the forthcoming conference in Vienna andthat there are indications that Kuwait and Saudi Arabia might go along withsuch an increase has been sharply contradicted by a Saudi spokesman.

Iranian Oil Minister Hossein Kazempour Ardebili told Reuters in a telephoneinterview on 22 November that "we are...