Word: qatar
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Dates: during 1970-1979
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...prices stick even through a worldwide glut of petroleum. Officials in the U.S. and other oil-importing countries kept wishfully thinking that OPEC would somehow split apart, but their hopes were always foiled −until last week. Then, at a price-setting meeting in the tiny desert emirate of Qatar, the first fissure in OPEC's united front finally came, unexpectedly, openly and dramatically...
...victory for U.S. economic diplomacy. TIME learned that President Ford called Saudi Ambassador Ali Abdallah Alireza to the White House for a private talk. Cyrus Vance, who is Jimmy Carter's choice to be Secretary of State, met separately with the ambassador, and after the split in Qatar, Vance praised the Saudis' "courageous and statesmanlike" action. Yamani, for his part, declared, "We expect the West, especially the United States, to show appreciation for what we have done." The U.S., he said, could indicate gratitude by working toward "settlement of the Arab-Israeli conflict," presumably by leaning on Israel...
Star of Riyadh. Despite the strains, OPEC had so successfully fostered a one-for-all front that as the Qatar conference began last week, no one could have foreseen its drastic outcome. Bedecked in flowing Saudi robes and headdress, Yamani, who has a Kissinger-style flair for personal diplomacy, arrived at the very last minute. As he entered the plush Gulf Hotel in the Qatar capital of Doha, which had been completely taken over for the conference and placed under heavy security, Yamani gave a swift aside to reporters: "We are for a six-month [price] freeze...
Prospects for agreement, however, are poor, and the North-South meeting has been postponed, probably until next spring. Thus, OPEC's leaders now will meet on schedule Wednesday in the tiny Persian Gulf emirate of Qatar. As usual, their deliberations will probably be dominated by Saudi Arabian Oil Minister Ahmed Zaki Yamani, who will seek to keep the increase as low as possible, and Iran's Minister of State, Jamshid Amouzegar, who will argue for a boost of at least...
...divisions are rooted in economic self-interest. The Saudis speak for a bloc of almost empty desert countries with huge oil reserves-Kuwait, Qatar, the United Arab Emirates-that want to keep prices down and sales high. Algeria, Iraq and Libya, with relatively smaller production and reserves, want to get the most for their oil; they are talking up increases as high as 25%. Most outside experts guess that OPEC will eventually compromise...