VOL. XXXIII

NO. 42

23-JULY-1990

OPEC

Iran Proposes $20/B Basket Reference Price

Mr. Gholamreza Aghazadeh, the Iranian Oil Minister, told a press conferencein Algiers on 15 July that his country had already placed on the agenda of the25 July OPEC ministerial conference a proposal for setting the minimumreference price for the OPEC basket to "at least $20/B," adding that"if we reach the $20/B with the 22.5mn b/d ceiling, that's OK. If we don't,then in October or November we must reduce the ceiling...