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...shock that could turn sluggishness into recession could come from another big hike in world oil prices by the Organization of Petroleum Exporting Countries, which has scheduled a price meeting in Qatar for Dec. 15. Last week talk swirled around the world that OPEC might post only a small interim increase (5% or so) or even delay any rise until next year. Oil-burning countries can only hope that OPEC does hold off. The U.S. State Department, which has been waging an unusual public campaign to forestall an oil increase, warns that a 15% boost would cut a full percentage...

Author: /time Magazine | Title: OUTLOOK: In the Shadow of a New Global Slump | 11/29/1976 | See Source »

...example, now imports about 40% of its oil, v. 29% before the time of the Arab embargo in 1973. Now, the consuming countries are about to pay the OPEC piper for their neglect. In mid-December, oil ministers of OPEC'S 13 member nations will gather in Qatar. "Are we going to hike our prices?" asks Iran's Hamid Zaheri, OPEC spokesman. His answer: yes. The only real question is how much...

Author: /time Magazine | Title: OIL: How Much to Pay the OPEC Piper? | 11/8/1976 | See Source »

...good relationship with "my friend Henry," as he calls the Secretary of State, but Egypt's own pressing needs. With 37 million people-and a high birth rate -the country is desperately poor. Despite a cash transfusion of $1.2 billion this year from Saudi Arabia, Kuwait and Qatar, Egypt will probably end 1975 with a $500 million deficit, raising the possibility that the country might default on its debts. The Saudi moneymen, moreover, are not happy-or think it impolitic to seem happy-about Egypt's signing of the Sinai accord, and they are likely to be less...

Author: /time Magazine | Title: MIDDLE EAST: Cementing Sadat to the West | 11/3/1975 | See Source »

Earlier this month, Lazard Frères & Co., a Paris banking house associated with Lazard of Manhattan and of London, was excluded from any role in floating a $25 million bond issue for Air France. One of the participants, Intra Investment Co., which gets its money from Kuwait, Qatar and Lebanon, insisted that Lazard be shut out. Intra officials put pressure on the two lead banks in the deal, Credit Lyonnais and Banque Nationale de Paris, both of which are government owned. Lazard was also excluded from a $25 million issue for another client, the state-owned utility, Compagnie Nationale...

Author: /time Magazine | Title: INVESTMENT: The Arabs Wield a Banking Ban | 2/24/1975 | See Source »

...members of OPEC, in order of last year's earnings are: Saudi Arabia, Iran, Venezuela, Nigeria, Libya, Kuwait, Iraq, United Arab Emirates, Al geria, Indonesia, Qatar, Ecuador and Gabon, which is an associate member. The United Arab Emirates is a federation of Abu Dhabi, Dubai, Sharjah, Ajman, Umm al Quwain, Ras al Khaimah and Fujairah...

Author: /time Magazine | Title: FAISAL AND OIL Driving Toward a New World Order | 1/6/1975 | See Source »

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