INTERNATIONAL OIL DEVELOPMENTS - - - SOVIETS PLANNING BOOST IN OIL PRICES (CIA

Created: 7/11/1974

OCR scan of the original document, errors are possible

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CIA HISTORICAL REVIEW PROGRAM RELEASE IN8

SOVIETS PLANNING BOOST IN OIL PRICES

Soviet planners arc considering an increase in prices for oil delivered to CEMA (Council for Mutual Economic Assistance) countriesesponsible Soviet economistS Embassy official tn Moscow thai no decision had yet been reached, but an increase of atver ruble prices chargedas likely. The actual increase probably will be larger as world oil prices have quadrupled sincend Ihe Soviets will be unwilling lo offerarge concession to their East European trading partners. The. price of Soviet oil exported to Eastern Europeaser barrel, if Soviet exports of oils% more lhanastern Europe's import bill will beillion3 billion rubles) assuming ihe Soviels increase prices. If prices increase to world market levels. Eastern Europe's oil import bill will total more thanillion.