RAW DEALS Available to Purchase

OPEC's decision to jack up oil prices at a rate which left the industrial nations reeling with disbelief prompted the obvious fear that “producer power” would extend to other countries rich in natural resources. That threat has receded for the moment as industry demonstrates its unwillingness to pay the higher oil prices by cutting back on consumption, but OPEC's action has given commodity conferences unprecedented importance. Here, Alec Snobel takes soundings of the commodities scene and comes up with a reading which is broadly optimistic.