IF OIL IS A COMMODITY, WHY NOT MANAGE IT THAT WAY?
By Silvan Robinson
(In this article Mr. Silvan Robinson, recently retired as President of ShellInternational Trading Company (SITCO), expands on views on oil market managementoriginally outlined by him at the Oxford Energy Seminar in September 1987.)
It is more than a year since OPEC reintroduced its "fixed price, fixedquota" system for controlling the world oil market. There was much clickingof tongues in industry...