OIL MARKET TEACHING LESSON IN FUEL CHOICE

A slump in oil prices gives producers a chance to teach governments a lesson in comparative fuel economics. Having watched crude lose 20% of its value in just a few months, however, producers are busy worrying about the future. Many of them again face the stark choice whether to keep or quit producing. While demand staggers, prices will stay low until enough producers choose the latter option to trim supply. The market seems determined to show who was paying attention to its lesson of the late

Jan 10th, 1994
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