What were the oil import prices in 1974 as a percentage of the 1973 prices?
Homework Answers
Oil import price in 1973 and1974 [ Per barrel ]
| Year | Persian Gulf | Nigeria | Saudi Arabia | Venezuela | Total OPEC 4 | Canada | Total Non OPEC 4 | Total |
| 1973 | 5.91 | 9.08 | 5.37 | 5.99 | 6.85 | 5.33 | 5.64 | 6.41 |
| 1974 | 12.21 | 13.16 | 11.63 | 11.25 | 12.49 | 11.48 | 11.81 | 12.32 |
Oil price in 1974 as a percentage of 1973 ( overall ) = [ 12.32/6.41] X 100 % = 192.20%
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What were the oil import prices in 1974 as a percentage of the 1973
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