KING FAHD CALLS FOR STABILIZATION OF OIL PRICE AT CURRENT LEVEL FOR AT LEAST TWO YEARS

King Fahd ibn 'Abd al-'Aziz of Saudi Arabia has not only reiterated the Saudi position - enunciated in a government statement last week (MEES, 18 May) and now endorsed by all six member states of the Gulf Cooperation Council (see page A4) - that the prices and quotas decided on in OPEC's December 1986 agreement should remain unchanged until the end of 1987, but has gone one step further by...