OPEC may raise prices 10% or so by year-end

The Organization of Petroleum Exporting Countries will likely increase the price of its oil by at least 10 percent by the end of the year, oil industry executives said. IT said the price of OPEC oil is also likely to rise in 1981, with the rate of increase probably determined by how long the Gulf war interrupts exports from Iran and Iraq. Price increases before January could be more than 10 percent unless oil companies can be persuaded to draw on stocks to make up the loss of Iraqi and Iranian supplies, rather than buy high-priced oil on the free market.

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK