Minutes of OPEC meetings, 1980-1985, inclusive

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Topics included the financial and auditor reports for 1980, reports of the 7th informal meeting of Chief Executives of the National Oil Companies, the Committee of Experts for the formation of the OPEC Institute for Higher Education, and the proposal for the formation of an energy trust fund for Research and Development at Oxford University. Reports of the 53rd and 54th meeting of the Economic Commission were presented, and discussion continued about the long-term strategy of OPEC. Marc Saturnin Nan Nguema of Gabon was appointed Secretary General. The conference adjourned on its first day to offer condolences at the Ecuadorian consulate, after having learned of the death of Ecuadorian president Jaime Roldos Aguilera in a plane crash earlier that day.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Topics addressed included the 1982 budget, the report of the Economic Commission, continued discussions on the formation of an OPEC higher education institute, and how to best counter negative publicity against OPEC, and the need for a concerted public relations campaign. Also includes the text of the opening speech by Mana Said Otaiba, the Minister of Petroleum and Mineral Resources for the United Arab Emirates.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. The meeting primarily addressed responses to current market conditions (such as drop in consumer demand and increase in production by non-OPEC states), which led them to confirm the price increase per barrel of crude as agreed at their previous meeting, to set a ceiling on production, and to address the issue of price differentials.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Topics addressed included discussion of the report of the Ministerial Committee, which led the conference to retain ceilings on production adopted at the previous meeting, and a review of the report of the 56th meeting of the Economic Commission, Also included was the text (paraphrased) of the opening speech by Osvaldo Hurtado Larrea, president of Ecuador.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. The topics discussed were primarily in response to the report of the third meeting of the Ministerial Committee, which had meant to address the issues of pricing and production ceilings, but during the meeting, the continuing issue of price differentials was raised as well.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Topics included approval of the 1983 budget, and the report from the sixth meeting of the Ministerial Committee, which recommended maintaining the production ceiling in light of continued reduced demand for oil.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. The main topics of discussion were to set the price per barrel of crude at $29, and to keep a production ceiling of 17.5 million barrels per day.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Topics included the financial and auditor's reports for 1982, and the reports of the Ministerial Monitoring Committee and the Economic Commission, and a review of the long-term strategy of OPEC, since market conditions had greatly changed since the last time they had addressed that several years earlier. Also included was the text of the opening address by Finnish Prime Minister Kalevi Sorsa.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Topics included the 1984 budget, the reports of the Ministerial Monitoring Committee and the 59th Economic Commission meeting. These reports confirmed that the market had weakened and led them to hold off raising the ceiling on production and to maintain current prices. The decision to appoint a new Secretary General, pending from previous meetings, had again been deferred, due to objections from some members (such as Iran) as to the selection process.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Topics included the financial and auditor's reports for 1983, discussion of the reports of the Ministerial Monitoring Committee and the 60th meeting of the Economic Commission Board, and the meeting of the executives of national oil companies. No new Secretary General was chosen, and it was agreed to maintain current price levels and the production ceiling, and to reach out to non-OPEC producing countries to better coordinate pricing and production.

Provided the committee's assessment of market conditions, outlook for oil demand, and results of the $5 reduction in price per barrel of crude.

The report summarized the committee's discussion to date of four key issues: developing a long-term strategy for pricing policies, OPEC relations with other oil-exporting countries, OPEC relations with developing countries, and relations with industrialized countries. It was acknowledged that industrialized countries had countered OPEC's strategies in pricing and demand successfully, and that OPEC needed to think more strategically about its own response to that.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Observers: Egypt, Mexico. The main focus of the meeting was responding to price cuts from non-OPEC producers Norway and the United Kingdom, and member state Nigeria, and the reassertion of the existing price per barrel of $29 for member states, and implementation of a cut in production to 16 million barrels per day. The issue of price differentials among different types of crude was revisited, and a committee was formed to pursue that topic further.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Observers: Brunei Darussalam, Egypt, Malaysia, Mexico. Topics included approval of the budget for 1985, and discussion of the reports of the Ministerial Monitoring Committee and the Ministerial Committee on Price Differentials, and in regard to the latter, proposed a table of prices for different types of crude. A new Executive Committee was also formed to ensure that price and production controls were enforced among member states.

Delegations in attendance: Algeria, Indonesia, United Arab Emirates, Venezuela. Topics discussed included lack of success in achieving aims of reduction of output, lack of credibility of OPEC due to differential in pricing systems.

The main topic of the report was of Yamani's (and his committee's) efforts to reach out to non-OPEC oil producing nations, both from the developed (United Kingdom, Norway) and developing (Egypt, Mexico, Malaysia) countries, as well as the Soviet Union, to gauge their possible levels of cooperation with OPEC in setting a pricing structure on oil. As a result of Yamani's meetings with representatives from each of those countries, he invited Egypt, Mexico and Malaysia to attend OPEC meetings as observers.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Observers: Brunei Darussalam, Egypt, Malaysia, Mexico. The main topics were discussion of the reports of the Ministerial Monitoring Committee, the Executive Council, and the Ministerial Committee on Price Differentials. In regard to price differentials, a table of prices for different types of crude were adopted by most membrs, with Algeria, Iran, and Libya dissenting and Gabon abstaining.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Observer: Mexico. Topics included review and discussion of reports from the 62nd meeting of the Economic Commission Board, the Ministerial Monitoring Committee and the Minsterial Executive Council. In terms of the price differentials, prices were slightly reduced on different types of crude, which most members approved with the exceptions of Algeria, Iran, and Libya, which refused to support that.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Observer: Mexico. One of the primary topics discussed was the request of some member states (Iraq, Ecuador, Qatar, Gabon, and the United Arab Emirates) for an increase in their production quotas. The meeting agreed to maintain the total production ceiling of 16 million barrels, but to reallocate quotas among member states at a future date. Reports of the Ministerial Executive Council and the Ministerial Monitoring Committee were discussed as well.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Observers: Malaysia, Mexico. Topics included approval of the 1986 budget, review of the reports of the 63rd meeting of the Economic Commission Board and the Ministerial Monitoring Committee. Given the status of the market and the increasing decline in production by OPEC member states, concern was raised that OPEC needed to do more to capture a larger share of the market, and set up a committee to examine what measures OPEC could take to do so.