Saudi Arabia, Iran seek oil price freeze in '78

Journal Article · Mon Jul 25 04:00:00 EDT 1977 · Energy User News; (United States)

OSTI ID:7283557

Schroeder, C

Observers expect prices of medium to heavy oils to rise, even though Iran has joined Saudi Arabia in wanting prices to remain frozen another year because of oversupply of crude oil and a reduced summer demand for light crude. Reports have revived that members of the Organization of Petroleum Exporting Countries (OPEC) may agree to control production, which would raise prices by creating short supplies, but OPEC officials deny any discussions to plan production have taken place. When price discussions resume in Venezuela this December, no other nations are expected to side with Iran and Saudi Arabia in their effort to freeze prices. Iran cites a weak world economy, with high inflation and unemployment as its motivation, although politics has been suggested by observers who think Iran is really promoting its campaign for a modern army. (DCK)

• OSTI ID: 7283557
• Journal Information: Energy User News; (United States), Journal Name: Energy User News; (United States) Vol. 2:29; ISSN EUSND
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
294002* -- Energy Planning & Policy-- Petroleum
ASIA
AVAILABILITY
CHARGES
ECONOMIC IMPACT
ECONOMIC POLICY
ENERGY SOURCES
ENERGY SUPPLIES
FORECASTING
FOREIGN POLICY
FOSSIL FUELS
FUELS
GOVERNMENT POLICIES
INTERNATIONAL ORGANIZATIONS
IRAN
MARKET
MIDDLE EAST
OPEC
PETROLEUM
PLANNING
SAUDI ARABIA
TRADE
WORK