VOL. XXII

NO. 10

12-DECEMBER-1988

OPEC AND THE OIL MARKET: THE ROAD TO REVIVAL

by 'Isam al-Chalabi

(The following is the text of the keynote speech delivered on 5 December bythe Iraqi Oil Minister, Mr. 'Isam al-Chalabi, to the Financial Times conferenceon "the Outlook for Oil" in London.)

It is generally agreed that theprice of oil is one of the most important economic variables of our time.However, there is, unfortunately, widespread disagreement about how the price ofoil will develop or should...