Watching the World: Instability is the new stability

02/19/2001
The growing awareness among international oil chiefs that oil price stability is unlikely to return any time soon is entrenched by the latest report from the International Energy Agency.IEA's February Monthly Oil Market Report says instability is likely to become the watchword for crude markets and the industry for years to come-doubly so if the economic slowdown in North America has the expectedly baleful impact on global demand.The Paris-based organization said the problem is being precipitated by the disingenuous, or at least short-term, behavior of oil producers. It said that will lead to "a hard landing" for the oil market.Incompatible objectives"Producers talk as if their goal w...
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