VOL. XXX

NO. 6

17-NOVEMBER-1986

OPEC AND OIL PRICES

Iran Backs Saudi Initiative

In the wake of Shaikh Yamani's dismissal as Saudi Oil Minister, Iranianofficials and media have indicated that contacts between the two countries havebeen stepped up and that Iran endorses Saudi Arabia's demand for a return byOPEC to fixed and higher prices.

Tehran radio on 10 November announced that King Fahd of Saudi Arabia had senta message to President Ali Khamene'i of Iran "supporting Iran's views andexpressing...