VOL. XXXI

NOS. 11/12

21/28-DECEMBER-1987

COLLAPSING MARKET PUTS OPEC'S OFFICIAL PRICE STRUCTURE IN JEOPARDY

MEES Editor Ian Seymour Reports on the Oil Scene in the Aftermath of OPEC'sVienna Conference

After a week when crude oil prices plunged by some $2 to $3/B in the wake ofa less than credible OPEC agreement in Geneva, it is legitimate to ask onceagain whether OPEC's structure of fixed prices for crude oil, based on the $18/Breference yardstick, has any chance of survival. On the present...