OPEC AND THE PRESENT STRUCTURAL LIMITATIONS ON ITS OIL PRICE CONTROL
by Fadhil J. Al-Chalabi
(The following is the text of a paper delivered by Dr. Fadhil J. Al-Chalabi,the Deputy Secretary General of OPEC, at the Fourth Arab Energy Conference inBaghdad on 15 March.)
Never in its history has OPEC faced such important and difficult policyoptions on both prices and production as it does today. In a prolonged situationof oversupply, it is very difficult to reach a...