NO. 2



Soviet Union Will Quadruple Domestic Oil Price in 1992

The Soviet Oil Minister, Mr. Lev Churilov, said on 8 October that he andthe government of the Russian Republic were taking steps to increase thedomestic price of crude oil in 1992 to Rbs300-350/ton from its current price ofRbs70/ton. The move is a step towards free marketing pricing and is designedto encourage a turn-around in the Soviet oil industry, Mr. Churilov said. Heblamed the low domestic price...