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110. Intelligence Memorandum Prepared in the Office of Economic Research, Central Intelligence Agency

ion) agreed to a substantial increase in posted price s of petroleum. The increase is designed to restore to the oil producing countries the purchasing power lost because of the dollar’s devaluation. The other OPEC members—Algeria, Indonesia, Libya, Nigeria, and Venezuela—had already increased their prices individually or are expected to do so in the near future. The agreement should add about $670 million in revenues to the Persian Gulf States in 1972, at least enough to compensate for the reduction in purchasing power of the dollar. It will not impose an added burden on the oil companies or …

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Source	Foreign Relations of the United States
Collection	International records
Kind	Document
Publisher	US Department of State, Office of the Historian
Date	1972-02-01
Type	diplomatic document (FRUS)
Details	Foreign Relations of the United States, 1969–1976, Volume XXXVI, Energy Crisis, 1969–1974
Found at	https://history.state.gov/historicaldocuments/frus1969-76v36/d110
Archived copy	Look it up in the Wayback Machine
Record ID	`frus:frus1969-76v36/d110`

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110. Intelligence Memorandum Prepared in the Office of Economic Research, Central Intelligence Agency. Foreign Relations of the United States, 1972. Vero Archive, record frus:frus1969-76v36/d110.