Opec has changed

05/01/2000
I am writing this in response to your editorial in your Apr. 3, 2000, issue, "OPEC is too slow."The OPEC group of countries is introduced by all media as an irresponsible cartel that is unable to manage the business of producing sufficient oil to stabilize the market. When the oil price is down nobody is interested in talking and adjusting the price, but when it is going up, OPEC is blamed for anything one can think about.Your statement that at the end of 1997 the exporters group underestimated the depth of the Asian recession and consequence slump in the demand, is not the real course of the development which led to OPEC's increase in production. It is what you have called "infamous ...
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