The World - News from Oct. 23, 1988

The chairman of the Organization of Petroleum Exporting Countries said that there had been “concrete and important progress” made in talks on reuniting the cartel, but he warned that any agreement to limit oil output had to be signed by all 13 member states. Chairman Subroto, of Indonesia, told a news conference at the end of three days of negotiations in Madrid among eight OPEC states that “before presenting final recommendations on an (accord), the members felt that they should adjourn to enable further consultations at government level.” The ministers, who make up OPEC’s price and long-term strategy committees, agreed to meet again Nov. 17 in Vienna.