OPEC weighs shift from dollar pricing

Journal Article · Mon Dec 19 04:00:00 EST 1977 · Energy User News; (United States)

OSTI ID:5165884

Minerbrook, S

The possible effects of actions the Organization of Petroleum Exporting Countries (OPEC) may take in December, 1977 to shift oil prices to a stronger currency than the dollar are examined. Short-term effects would be higher prices for U.S. oil users, while long-term effects would be to make oil planning more complex because of currency fluctuations. Analysts feel that if any shift occurs, it will come later than the December 20 meeting in order to avoid immediate economic disruptions. Despite the dollar's worsening position relative to Japanese, Swiss, and German currency, analysts consider the chance of a shift to be minimal because of OPEC's large dollar investment and the time needed to make a currency change.

• OSTI ID: 5165884
• Journal Information: Energy User News; (United States), Journal Name: Energy User News; (United States) Vol. 2:50; ISSN EUSND
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700 -- Petroleum-- Economics
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29 ENERGY PLANNING, POLICY, AND ECONOMY
294002* -- Energy Planning & Policy-- Petroleum
CARTELS
CHARGES
ECONOMIC IMPACT
ECONOMIC POLICY
ECONOMICS
ENERGY SOURCES
FORECASTING
FOSSIL FUELS
FUELS
INTERNATIONAL ORGANIZATIONS
INVESTMENT
MONOPOLIES
OPEC
PETROLEUM
TRADE