OPEC OIL PRICE INCREASE

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP80B01554R003300310032-1
• Release Decision: RIPPUB
• Original Classification: S
• Document Page Count: 1
• Document Creation Date: December 16, 2016
• Document Release Date: December 10, 2004
• Sequence Number: 32
• Publication Date: December 12, 1978
• Content Type: MF

Approved For Relgase 200&Wl"Gc Cfl"C9 60 1554R0W300310032-1
12 December 1978
MEMORANDUM FOR: The Honorable W. Michael Blumenthal
The Secretary of the Treasury
SUBJECT: OPEC Oil Price Increase
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1. In response to your phone call this morning, I am
attaching two reports on the subject of an OPEC oil price increase.
Neither indicates that an American official agreed with any'
proposed increase. The State Department telegram of 10 December
states that the Ambassador did not agree that a 10% increase would
be acceptable. The other document is our International Energy
Biweekly Review. The article in it indicates that 25X1
the price increase would be from 10 to 15%
and that "he noted that he was gratified that several OPEC members
were willing to be 'moderate'." The term "he" is unfortunately
ambiguous here F_ I
2. In short, I haven't any confirmation that U.S. officials
accepted the idea of a price rise. I
Attachments
as stated
Approved For Release 200?/,0111.3-_ -,,C~-1A-RDP8
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