OGJ Newsletter

09/17/2001
Market MovementOPEC likely to act to calm marketsWhile world oil markets are volatile for now, in the wake of last week's terrorist attacks in Washington, DC, and New York City, OPEC can be expected to supply added liquidity to the market immediately.So says PIRINC Pres. Larry Goldstein:"OPEC will not wait. It will put oil out in advance of the needs," he said in an interview. He said crude oil markets have remained calm throughout the crisis.When the US retaliates, Goldstein predicts it will be "massive." To avoid a shock to oil markets, Goldstein contends OPEC will act appropriately now to provide a cushion. Sources say the US has already received assurances from Saudi Arabia and ot...
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