TITLE

A new challenge for OPEC

AUTHOR(S)
Ford, Neil
PUB. DATE
October 2004
SOURCE
Middle East;Oct2004, Issue 349, p44
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
This article focuses on oil and petroleum industry. OPEC has spent most of the past three years trying to persuade member states to stick to their quotas. Now, however, with oil prices at a 20-year high and little slack in the system, the cartel has sought to help member states maximise production. In practice, however, oil market mathematics has meant little since the outbreak of war in Iraq and it would surprise no-one if additional OPEC capacity was brought into production. These mark the highest prices seen since the early 1980s in absolute terms, but when inflation is taken into account prices are still substantially lower now than during the second major oil shock of the 1970s.
ACCESSION #
14619549

 

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