Oral Answers to Questions — North Sea Oil (Production)

Part of the debate – in the House of Commons at 12:00 am on 3rd May 1976.

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Photo of Mr Tony Benn Mr Tony Benn , Bristol South East 12:00 am, 3rd May 1976

The world price of oil and the forecasts are a matter of great concern to all oil-consuming countries as well as oil-producing countries. Like any Minister in my position, I try to find out what the prospects are. There are many factors, some of which are being discussed at the CIEC conference which is taking place between oil producers and oil consumers, and there are other factors bearing on the strength of recovery of the world economy. I should not like to give a forecast, but I should like to reassure the House that this is a matter which we are keeping carefully under review.