Posted oil price (original) (raw)

The posted price of oil was the price at which oil companies offered to purchase oil from oil-producing governments. This price was set by the oil companies and used to calculate the share of oil revenues that oil-producing countries would receive. Between 1957 and 1972, the posted price was greater than the market price of crude oil. Between 1961 and 1970 the market price hovered between 1.30and1.30 and 1.30and1.50 per barrel, while the posted price was a constant $1.80.