OPEC failed again to reach a production agreement.
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Oil ministers of the Organization of Petroleum Exporting Countries met in Geneva for 2 1/2 hours and recessed after failing to agree even on what oil production figures they should be discussing. They agreed to meet again today. In the meantime, at the suggestion of the Saudi Arabian oil minister, Ahmed Zaki Yamani, the ministers decided to put a committee of experts to work in an effort to resolve what the ministers have not been able to resolve. The committee of experts, on which all 13 OPEC members will be represented, was charged with finding a figure for a reduced level of production.
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