INTERNATIONAL OIL DEVELOPMENTS - - - US IMPORTS OF SOVIET OIL INCREASE (CIA 794

Created: 3/1/1974

OCR scan of the original document, errors are possible

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CiA HISTORICAL Rp

RELEASE IN8

US IMPORTS OF SOVIET OIL INCREASE

US imports of Soviet oil last year, comparedn January Ihey.3 shipments provided aboutf our imports.

Most Soviel oil is carried by tankers returning from delivering grain to the Sovietigh level of oil deliveries probably will be maintained at least until the grain contracts 3rc fulfilled. Some grain deliveries have been postponed, however, and the oil trade may fall off until grain shipments pick up some lime after mid-year.

Residual fuel oil representedf (he oil cargoes2asoline, kerosene, and healingadehe average delivered pricearrel of Soviet oil3, compareduch of lhe increase can be attributed to the more expensive distillates. The average delivered cost of residual oil, however, increased2asl year, reflecting Ihc higher oil prices worldwide. (UNCLASSIFIED)"

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