OPEC

Iran's Ardebili Says OPEC Reference Price Could Rise to $22/B in 1988

Iran's Deputy Oil Minister Hossein Kazempour Ardebili has predicted that OPEC's official $18/B reference price for crude oil will almost certainly be increased to $20/B in 1988 to compensate for the reduced value of the US dollar, and could possibly be raised by a further $2/B to $22/B if an understanding could be reached among OPEC members for a gradual increase in official prices. Mr. Ardebili, who was...