European Stars And Stripes (Newspaper) - November 16, 1986, Darmstadt, Hesse                                Page b the stars and stripes sunday november 16,1986 panel oks Oil target Price of $18 Quito. Ecuador a open Sprice Rommel Tec agreed Friday 10 recommend the 13-Natitm Cartel fix a target Price of j18 a barrel for crude Oil an increase of about j4 Over today s average Price. But Ecuador s Deputy Energy minister said open s 17 million barrel daily oui Pul would have to be reduced to boost Price which have plummeted this year and he said the three member committee did not address the question during the special Daylong conference. Still we Hope to go to a fined Price of Sis a barrel As soon As possible Fer Nando Santos said at the end of the closed door meeting. Santos said a separate committee thai deals with output would consider quota issues before the full ministerial Confer ence of the organization of Petroleum exporting countries in Geneva Switzer land on dec. In. An open experts com mince is scheduled to meet thursday in Vienna Austria. Santos said he expected the recommendation of jj8 a barrel to be supported at the december open conference because the three members on the Price committee represent different geographical regions. The members arc Javier Espinosa Teran Ecuador s Energy minister Sheik Ali Khalifa Al Sabah of Kuwait and Farsi Al Sha Shuki of Libya. Venezuela s Oil minister Arturo Hernandez Gri Santa. And open Secretary general fad hit Al Chalabi of Iraq attended the meeting As observers. Santos said the committee had such great Harmony that it did not need to meet a second Day As had been scheduled. Open has been struggling All year to find a Way to boost prices which Plum meted from about s32 a barrel last no vember to Levels below j10. Before rising to a current Range Between $13 and 116 barrel the huge Oil surplus on the world mar Ket much of it supplied by non Ope producers is an obstacle id open s efforts to increase prices open also has serious internal division mainly the 6 year old War Between Iran and Iraq. Various proposals Tor pricing mechanisms had been made including a re turn to official Selling prices of j18 or $20 for a 42-gallon barrel according to one source. Ecuador Espinosa said earlier was pushing for a Price Range of 118 to 120,but several other countries wanted a spread of 17 to is 9. Before the committee s decision san tos said that the group was considering several options. One proposal championed by Libya and Iran called for an immediate increase to Jib a barrel Cou pled with a drastic reduction of specs output. He said supporters of hat approach believe ii would Force Oil prices up to j28 a Barret by the end of 19s7. A second position which Ecuador and Venezuela advocate called for a strategy of setting a scale of prices with 118 As the minimum Santos said. The meeting was requested by saudi Arabia s acting Oil minister Hisham Nazer after he replaced Sheik Ahmed Zaki Yamani in he Post on oct. 30. Nazer had been expected to attend the meeting of the Price committee but he Lent word that he would not be Able to attend. Iran s Oil minister Gholamreza Agna Zadeh also cancelled his planned Atten dance at the last minute. Nazca has urged open to return to a system of filed prices with crude set atji8 a barrel. At the end of last year open abandoned in system of fixed prices. A pan of a Campaign n halt the decline Ino pecs share of world Oil sales the car Tel left its members free to sell u much Oil As possible at the oct Price they could obtain. The result was l