Watching the World: Manning the controls

Jeroen van der Veer recently admonished international oil companies to set their sights beyond classic supply and demand analysis in dealing with the volatility predicted to haunt crude prices for the foreseeable future. That sounds like a welcome call for pragmatism amid the crescendo of pleas for "price stability" heard before the Organization of Petroleum Exporting Countries' last meeting.Speaking at the Handelsblatt Energy Conference in Berlin this month, Van der Veer, a Royal Dutch/Shell Group managing director, made the case for majors recognizing the limits of their influence on market fundamentals and instead turning their attention to areas where control might be exerted.The ...

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