Energy: OPEC: No Boost till June

World oil surplus and Saudis keep the lid on

Before leaving on his private jet for last week's price-setting meeting of the Organization of Petroleum Exporting Countries in Venezuela, Saudi Arabian Oil Minister Ahmed Zaki Yamani picked up his Arab worry beads to take them along. He could have left them at home. During the two-day session at the beach resort of Caraballeda outside Caracas, Yamani gave his fellow oil ministers a tough display of Saudi Arabian power in oil politics. Arguing that the international economy is too weak and world oil supplies too high to support an increase over the current...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!