KING FAHD AFFIRMS SAUDI ARABIA'S RIGHT TO SAME FREEDOM OF ACTION AS OTHER OPEC COUNTRIES IN OIL MARKET

King Fahd of Saudi Arabia has affirmed that the Kingdom has the same right to freedom of action on prices and production in the oil market as exercised by other OPEC countries.

The King's remarks - made in a speech to students at the Umm al-Qura University in Mecca on 22 September - follow the conclusion of new oil sales deals entered into by Saudi Arabia with crude prices based...