VOL. XXX

NO. 17

2-FEBRUARY-1987

OPEC/NON-OPECAND OIL PRICES

King Fahd Spells Out Saudi Policy on OPEC, Production and Prices

In an oil policy statement last week, King Fahd of Saudi Arabia stressed that"any increase in oil output must be in response to market demand and not asa result of competitive production, since this causes great harm to both theOPEC and non-OPEC producers.'' At the same time, the King affirmed that SaudiArabia "is the first to fulfill its obligations, and it will not...