§ Mr. Skeetasked the Secretary of State for Energy why he permitted the British National Oil Corporation to align its prices for crude oil with North and West African members of the oil producing and exporting countries when they raised prices to over $26 a barrel contrary to the oil producing and exporting countries' recommendations; and what effect he believes this will have on his policy of stabilising oil prices.
§ Mr. GrayNorth Sea oil prices follow market prices for equivalent crudes. They are not determined by Her Majesty's Government. The recent price increases were made only after the announcement of price increases by the main producers had effectively set new world market prices for the grades in question.