VOL. XXXIV

NO. 3

22-OCTOBER-1990

Oil Prices & the Gulf Crisis

OIES Challenges Conventional Wisdom on Oil Supply and Price Crisis

The Oxford Institute for Energy Studies (OIES) has come out with a sharpchallenge to the "conventional wisdom" on the current oil crisis whichit says is being "fostered" by OECD governments and oil companies -namely that there is no physical shortage of oil nor any stock- building by bigoil companies, so the price rises are due only to market psychology and...