OGJ Newsletter

01/01/2001
Market MovementOPEC unlikely to bolster oil prices in JanuaryIt looks as if OPEC can keep oil prices from crashing only by keeping the world on the brink of a shortage. The talk of production cuts at the group's Jan. 17 meeting in Vienna is beginning to look less like jawboning every day (see related story, p. 21).London think tank Centre for Global Energy Studies thinks that OPEC will find it difficult to keep oil prices at the $25/bbl level favored by most members.The strongest sign of this scenario emerged at the end of November, when Iraq halted oil exports after yet another tussle with UN officials over a price formula for December, removing more than 2 million b/d from global oi...
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