OPEC PACT TO CURB PRODUCTION OF OIL IS REPORTED CLOSE
Members of the Organization of Petroleum Exporting Countries appeared near agreement tonight to limit production in an effort to reduce the worldwide oversupply of oil and bolster rapidly weakening prices. The OPEC oil ministers are scheduled to continue their talks Saturday. A general agreement on production levels in individual countries would be the first by the organization. Sheik Ahmed Zaki Yamani, oil minister of Saudi Arabia, told reporters toward the end of the OPEC meeting today that ''we have reached agreement on a ceiling of 18 million'' barrels a day. That would represent a small reduction of about 200,000 barrels from the current estimated output by the 13 members.