Word: crude
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Dates: during 1980-1989
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...there is another, darker side to current Anglo-Soviet relations that some Britons see as crude interference in British affairs. Recently, an official of the National Union of Mineworkers announced that the Soviets have donated $1.3 million in cash, food and clothing to help the N.U.M. members continue their bloody nine-month-old strike. This follows a summer when more than 100 mineworkers and their families were provided with free vacations at a resort on the Black Sea. A week ago it was revealed that Arthur Scargill, the militantly Marxist leader of the miners, had made several secret visits...
...line. Bell Labs' parent company, AT&T, will probably employ the algorithm to route millions of telephone calls through hundreds of thousands of cities and towns more efficiently and profitably. Exxon has expressed interest in Karmarkar's program to help improve its allocation of supplies of crude oil among various refineries. For many large companies, says Graham, finding the best solution, as opposed to one that is merely workable, "can mean the difference between a good balance sheet and a mediocre...
...fallen. Only a few years ago, whenever OPEC met, the world anxiously waited in fear that the petroleum producers were about to raise oil prices again. But last week at an emergency meeting in Geneva, OPEC struggled to avoid slashing prices once more. Rather than reduce the cost of crude, the ministers adopted a plan to reduce temporarily their production ceiling from 17.5 million bbl. per day to 16 million...
...ministers hope to avoid repeating their desperate move of March 1983, when they were forced to make the first and only price cut in OPEC'S history, a markdown of its benchmark Arab Light crude by $5 per bbl., to $29. Since then, energy conservation and sluggish world economic growth have helped push oil prices even lower, despite OPEC's self-imposed production limit of 17.5 million bbl. a day. Ministers hinted last week that they might reduce their output to about 16 million bbl. a day. By comparison, the group's daily production...
...proposed cutback probably would come from that country's production. After the Geneva meeting, Saudi Oil Minister Sheik Ahmed Zaki Yamani became chief salesman of the plan. He jetted to Lagos at the head of a 19-member delegation and tried to persuade the Nigerians to restore their crude-oil prices. They respectfully declined. So did officials in Oslo, the next stop on Yamani's campaign. No one, though, was willing to rule out a show of unity this week in Geneva. Says Constantine Fliakos, an oil-industry analyst for Merrill Lynch: "When things are easy, OPEC tends...