OPEC expected to agree on stabilizing prices

By With Analysis from Monitor Correspondents around the world; Edited by Debra K. Piot

May 7, 1980

Taif, Saudi Arabia

OPEC oil ministers meet in Taif today (May 7) for a special conference, confident they are within sight of agreement on a plan that would stabilize oil prices and protect the longterm interest of oil exporters. OPEC sources said the plan would revise oil prices four times a year to follow an index of currency fluctuations and inflation.