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OPEC’s changes

05/28/2007
Much of what has been written about the Organization of Petroleum Exporting Countries lately concerns not the group but the model. As demand grows worldwide for natural gas, the question arises: Can a global cartel of gas producers form with enough control over supply to influence price? The special report starting on p. 22 examines the issue.Most other questions about OPEC focus on immediate conditions in the oil market. How will political unrest affect production in restive members such as Nigeria and Venezuela? Will the group predict demand accurately and make timely adjustments in production?Questions such as those are now the routine because OPEC, contrary to lingering prejudices, ha...
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