NO. 35


Saudi Arabia

King Fahd Calls For Oil Price Stability

In a surprise reference to oil in his annual pilgrimage speech on 22 May,King Fahd ibn 'Abd al'Aziz of Saudi Arabia has called for a firm oil policy andcooperation between OPEC and non-OPEC to help stabilize oil prices. The Kingstated that it was in the interests of all parties to agree on "new basesand measures dictated by market realities" to formulate this policy. Thefollowing is the text of King Fahd's remarks...