BUYERS AND SELLERS SQUARE UP IN PRICE CONFRONTATION OVER GULF OIL SUPPLIES

As expected, the New Year is witnessing a sharp confrontation between buyers and sellers over price terms for 1985 oil supplies - particularly from the Gulf area. In the front line are, on the one side, Japanese customers pressing for more favorable, market-related price terms for 1985 crude oil purchases and, on the other, vulnerable Gulf exporters, such as Iran, Abu Dhabi and Qatar, who are endeavoring not to...