VOL. XXX

NO. 7

24-NOVEMBER-1986

OPEC AND OIL PRICES

Shakshuki Says Output Cut Necessary to Reach $18/B

Libyan Secretary of Planning Fawzi Shakshuki a member of the three-man OPECpricing committee which met last week in Quito to recommend a return to a fixedprice of $18/B has said that he believes a cut in OPEC production will benecessary to achieve this goal. Speaking in Quito on 16 November Mr. Shakshukiasserted that "we will have to reduce production to reach $18/B," andsaid that Libya believed...