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Organization Of Petroleum Exporting Countries

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BUSINESS
March 26, 1994 | From Times Staff and Wire Reports
OPEC Works on Stabilizing Prices: The oil cartel's ministers met to map out a strategy for stabilizing oil prices amid new warnings that prices could plunge several more dollars if the cartel fails to act against overproduction. An internal OPEC report estimates that prices will rebound only if the 12 nations of the Organization of Petroleum Exporting Countries slash oil output by nearly 1.5 million barrels a day.
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BUSINESS
March 26, 1994 | From Times Staff and Wire Reports
OPEC Works on Stabilizing Prices: The oil cartel's ministers met to map out a strategy for stabilizing oil prices amid new warnings that prices could plunge several more dollars if the cartel fails to act against overproduction. An internal OPEC report estimates that prices will rebound only if the 12 nations of the Organization of Petroleum Exporting Countries slash oil output by nearly 1.5 million barrels a day.
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BUSINESS
June 7, 1992 | MICHAEL PARRISH, TIMES STAFF WRITER
As it has managed to do for more than a century, the global oil industry is adjusting to a vastly changed landscape. Contrary to doomsday scenarios, and despite its critics, the oil business is by most accounts emerging from troubled times still solidly at center stage in the energy industry and with a supporting cast of increasingly flexible, lean, internationally competitive companies. And there are more surprises in this new world of oil: a wiser Organization of Petroleum Exporting Countries cartel that yearns to be a dependable supplier; revamped oil companies that hope to earn profits whether crude prices are high or low, and a planet with far more petroleum than any wildcatter's dream.
BUSINESS
June 7, 1992 | MICHAEL PARRISH, TIMES STAFF WRITER
As it has managed to do for more than a century, the global oil industry is adjusting to a vastly changed landscape. Contrary to doomsday scenarios, and despite its critics, the oil business is by most accounts emerging from troubled times still solidly at center stage in the energy industry and with a supporting cast of increasingly flexible, lean, internationally competitive companies. And there are more surprises in this new world of oil: a wiser Organization of Petroleum Exporting Countries cartel that yearns to be a dependable supplier; revamped oil companies that hope to earn profits whether crude prices are high or low, and a planet with far more petroleum than any wildcatter's dream.
CALIFORNIA | LOCAL
November 10, 1986 | From Reuters
A committee of the Organization of Petroleum Exporting Countries charged with restoring fixed, official crude oil prices will meet in Ecuador late this week, Kuwait said Sunday.
NEWS
April 20, 1986
Most members of the Organization of Petroleum Exporting Countries meeting in Geneva favor production limits proposed for the summer quarter, OPEC officials said. James Audu, spokesman for the cartel, said that ministers from member states will meet again today, but it was uncertain whether full agreement would be reached before the group's next meeting, June 25 in Yugoslavia.
NEWS
February 7, 1987 | From Reuters
Saudi Arabia's former oil minister, Shiek Ahmed Zaki Yamani, has applied for a permit to reside in the Swiss mountain resort of Crans-Montana, a Justice Ministry spokesman said Friday. Yamani has come to Geneva many times for meetings of the Organization of Petroleum Exporting Countries and has business interests in this country.
NEWS
December 15, 1987 | From Reuters
Hussein Kazempour Ardebili, Iran's deputy oil minister, denied news reports and rumors that the Ayatollah Ruhollah Khomeini, Tehran's top leader, is seriously ill. "He's well and very healthy," Ardebili said Monday in response to reports circulating at the Vienna meeting of the Organization of Petroleum Exporting Countries that Khomeini is ailing.
NEWS
October 17, 1986 | Associated Press
Dominant OPEC oil producer Saudi Arabia clashed with cartel partners today over finding a common strategy for limiting oil supplies, heightening prospects of failure and the possibility of a price plunge. Ahmed Zaki Yamani, the Saudi oil minister, told reporters the meeting of the Organization of Petroleum Exporting Countries, in its 12th day, had reached a "difficult stage." He commonly uses that expression to signal a major conflict in OPEC negotiations.
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