Iran oil surcharge
iN’ZPA-Reuter Teheran! ■ Iran is planning io add a . surcharge of SUSI.BO a barI rel to the price of its oil, i .■according to industry ■sources. Analysts said ■yesterday there was no sign j ! that nations with lowerI priced oil would follow ' ; Iran’s example. E The Iranian surcharge, expected to be announced ' ) today, is higher than the 1 i SUSI.2O surcharge adopted in recent weeks by several j : members of the Organisation I •of Petroleum Exporting . i Countries. However, it is! 'well under the SUS 4 pre-i mium imposed by some of; the cartel’s members. Last month, O.P.E.C. ap-i [ | proved a 9 per cent in the basic price of its I. crude oil, to 5U514.54 a bar- ‘ rel, and allowed its 13 mem- , ber nations to impose sur- j charges above that price as j they felt market conditions warranted. Most O.P.E.C. ( nations have tacked on surcharges ranging from 60c a t I barrel to SUS 4 a barrel. j • Because Iran's ail is of.j, ‘jslightly better quality than!. !the crude used as O.P.E.C.’sji '(benchmark, the effect of the J] (surcharge will be to raise I, the price of Iranian oil from I : 5U514.77 a barrel to j 1 5U516.57 a barrel. It is at present unclear ; 1 what effect, if any, that • ■ might have on consumers. I The O.P.E.C. increase, and • the surcharges announced in , ■the last couple of weeks, I had been expected to add a : total of about 3c a gallon to ' i petrol and oil prices in the (United States. •, ( No-one is sure how much ■ soil Iran is contributing top (the world supply. j Iranian oil-fields, which] 1 had produced almost s.7M|> (barrels of crude a day, were] (virtually closed down by the revolution and are just now : coming back into production. : Oil-industry sources say , that Iranian production may now be as high as 4M! bar- 1 rels a day, the level the new 1 Government said would be the maximum output. That 1 would be about 8 per cent ’ of the oil produced daily by ; the non-communist world. I
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/CHP19790412.2.56.2
Bibliographic details
Ngā taipitopito pukapuka
Press, 12 April 1979, Page 6
Word count
Tapeke kupu
346Iran oil surcharge Press, 12 April 1979, Page 6
Using this item
Te whakamahi i tēnei tūemi
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
Ngā mihi
This newspaper was digitised in partnership with Christchurch City Libraries.