Word: yamani
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Dates: during 1980-1989
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...world that often cowered before him, he was "Mr. Oil," the very symbol of what many viewed as Arab rapaciousness and relentless resolve to strangle the West. As the chief strategist and unofficial spokesman of the Organization of Petroleum Exporting Countries for more than two decades, Sheik Ahmed Zaki Yamani could seemingly drive oil prices -- and the global economy -- up or down at will. A few words from the unfailingly suave sheik could make government officials shudder and cause stock markets from New York City to New Delhi to fall. With gallows humor, wags depicted OPEC at the height...
...start of the fractious meeting it seemed that any agreement might be scuttled by Kuwaiti Oil Minister Ali Khalifa Al-Sabah and his Saudi Arabian counterpart Sheik Ahmed Zaki Yamani. Kuwait and Saudi Arabia, OPEC's two richest members, had insisted on bolstering their production by some 10%. In the end, Saudi Arabia accepted no increase for itself and instead offered to donate its share of the 200,000 bbl.-a-day production hike to Kuwait...
...Yamani said that his comments would anger some of his peers but that a majority of OPEC members were coming around to his thinking...
Criticizing the call for import restrictions, Yamani warned that such pressures could "lead to trade wars and spell the end of free trade practices...
...minister of one of the most powerful OPEC nations, Yamani said pricing by oil producers based only on short-term supply and demand trends led to the dramatic fall in petroleum prices from more than $30 per barrel in 1980 to a low of $9 in July...