OPEC AND OIL PRICES

Fall in Prices Could Force Venezuela to Renegotiate Debt Rescheduling 

A sharp drop in oil prices could force Venezuela to renegotiate the rescheduling agreement for its foreign debt which is due to be signed early next year, according to the Chairman of the Chase Manhattan Bank, Mr. Willard Butcher. The agreement, which involves refinancing $21.2bn of the country's $27bn public foreign debt over twelve and half years, involves payment of some $5.5bn annually...