The text on this page has been created from Hansard archive content, it may contain typographical errors.
32.
Mr. Jim Spicer
asked the Secretary of State for Energy when he proposes to reply to the protest of the Energy, Research and Technology Committee of
a statement on present and future oil prices.
Mr. Benn
The current price of oil on the world market is based on a decision by OPEC at its meeting in September 1975 to set the price of the "marker crude" Arabian light at $11ยท51 per barrel as from 1st October 1975 and to freeze that price until 30th June 1976. I cannot forecast future price trends.