For the Record (3)
June 2, 1980
Saudi Arabia is likely to raise its oil prices by up to $4 per barrel and trim production by 1 million barrels a day if other oil producers agree to freeze their prices for the rest of 1980, Marwan Iskandar, a leading Arab economist, said Sunday. Such a deal would be the logical outcome of the OPEC ministerial meeting opening in Algiers June 9, he said.