VOL. XXXI

NO. 32

16-MAY-1988

OPEC

$18/B "Fair" Says UK Energy Secretary

In a departure from normal British practice, the UK Energy Secretary, Mr.Cecil Parkinson, has described OPEC's $18/B reference price as "reasonableand fair" for both consumers and producers. Speaking in an interview in theLondon Arabic weekly al-Hawadeth, the British official said that a price in thisrange would encourage both more rational use of energy and the replacement ofreserves. However, when asked why, if this was the...