UPI reported that the Iran–Iraq war had forced three oil meetings to be postponed. Fighting between two member states obstructed the organization’s work on oil policy.
OPEC’s Bali conference ended with revised official price limits despite tensions between Iran and Iraq. Diplomatic reporting said the war featured prominently without stopping the conference’s basic...
In Bahrain, Iran’s oil minister backed a $19-per-barrel target by year’s end. Iran sought stronger prices as reduced market income intensified pressure on the wartime budget.
