§ 32. Mr. Jim Spicerasked the Secretary of State for Energy when he proposes to reply to the protest of the Energy, Research and Technology Committee of
470Wa statement on present and future oil prices.
§ Mr. BennThe current price of oil on the world market is based on a decision by OPEC at its meeting in September 1975 to set the price of the "marker crude" Arabian light at $11.51 per barrel as from 1st October 1975 and to freeze that price until 30th June 1976. I cannot forecast future price trends.