AN OPEC PANEL URGES PRICE RISE TO $18 A BARREL
The main pricing committee of the Organization of Petroleum Exporting Countries recommended tonight that the group raise prices by $3 a barrel, to $18, and return to setting fixed rates for petroleum. There was no official recommendation on what has been considered the critical issue of how to restrict production to get prices to rise. But the three oil ministers meeting here, from Kuwait, Ecuador and Libya, urged that a quota system, restricting output country by country, be continued. They said there was wide agreement within OPEC for such a system, as evidenced in communications sent by members not present.
