- Title: IRAN: GULF STATES TO DOUBLE OIL PRICES, ANNOUNCES SHAH OF IRAN.
- Date: 24th December 1973
- Summary: 1. SV INT People seated in room with Shah seated at desk 0.18 2. SCU Shah speaks 2.32 This was how the Shah announced the increases: "Our experts have to study what prices we should put on our oil -- this natural resource that is going to be finished in 30 years time unless new sources of....I mean, unless new structures are found. Quite possibly we could go deeper in the search for oil. Now we were confronted by this problem. What price should we ask for oil, when in some cases people were offering such prices? And we had even heard that some companies had bought oil in Nigeria for 16.8 dollars had resold that oil for 30 dollars a barrel. So it was really a wild price market, based on nothing concrete. We suggested to the members of OPEC -- to the regional members and to the other members of OPEC, the general observers -- to base the whole thing on this net concept." Initials BB/1722 TH/PN/BB/1731 Script is copyright Reuters Limited. All rights reserved
- Embargoed: 7th January 1974 12:00
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- Location: TEHERAN, IRAN
- Country: Iran
- Reuters ID: LVA5171RFP5MFXLXJBW4SQ1MCUAR
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