Oil price rise forecast
(N.Z.P.A.-Reuter —Copyright) CARACAS, Sept. 9.
The petroleum-exporting countries are likely to decide to raise the price of crude oil by 14 per cent at their meeting in Vienna later this week, according to the Venezuelan Minister for Hydrocarbons (Mr Valentin Hernandez).
He said that this was the increase to be recommended by the technical commission of the Organisation of Petro-leum-exporting countries because it was equivalent to world inflation since the O.P.E.C. last raised its prices.
"Venezuela fully supports the recommendation, and the rise can virtually be taken as a fact,” the Minister told reporters as he left by air for Vienna.
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Bibliographic details
Press, Volume CXIV, Issue 33635, 10 September 1974, Page 17
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105Oil price rise forecast Press, Volume CXIV, Issue 33635, 10 September 1974, Page 17
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