§ Mr. Bermingham
asked the Secretary of State for Energy what is his policy on oil in the light of current and projected price trends; and what discussions he has held with oil companies about the price implications of this policy.
§ Mr. Peter Walker
United Kingdom oil production levels are a matter for the producing companies, subject only to technical limits. United Kingdom prices are determined by the world market and the balance of supply and demand. I frequently meet the oil companies to discuss matters of mutual interest.