VOL. XXX

NO. 20

23-FEBRUARY-1987

OPEC/NON-OPEC AND OIL PRICES

BP Chairman Backs OPEC Strategy

The Chairman of BP, Sir Peter Walters, has voiced support for OPEC's campaignto stabilize the oil market around a fixed price of $18/B. Sir Peter told theInstitute of Petroleum in London on 17 February that the proposed price levelcould satisfy the aspirations of both consumers and producers. "It is nottoo high to be regarded as an excessive burden for consumers and it is highenough to satisfy the needs...