OPEC

Lukman Focuses on OPEC Indebtedness

In 1985 the total external debt of the OPEC countries was $172bn, some 25% of the overall indebtedness of the developing world, according to the President of the OPEC Conference, Nigerian Oil Minister Rilwanu Lukman. Mr. Lukman, addressing the Swedish Institute of International Affairs in Stockholm on 1 June, said that OPEC oil exports had fallen by 53% in the first half of the decade and that "the sharp reversal of fortunes in the oil market...