OPEC'S EVOLVING ROLE: Analysts discuss OPEC's role in next potential oil price shock

Organization of Petroleum Exporting Countries Conference Pres. Chadkib Khelil and Sec. Gen. Alí Rodríguez Araque, at photo center left and center right, respectively, field questions from reporters during the 114th Meeting of the OPEC Conference, in Vienna on Mar. 16-17. Photo courtesy of OPEC.Click here to enlarge imageThe world is grappling with yet another spike in oil prices, in some respects like those of the past 3 decades. This latest spike in prices has its roots in, among other factors, the oil price collapse of 1998-99 that spawned a massive retrenchment in upstream capital investment. That collapse in exploration and production spending, in turn, has left the Or...

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