VOL. XXXI

NO. 25

28-MARCH-1988

OPEC AND OIL PRICES

OPEC Should Stick to $18/B Price Says Grisanti

The Venezuelan Minister of Energy and Mines, Dr. Arturo Hernandez Grisanti,has warned that for OPEC to abandon its present price structure would be"totally inconvenient," since it would lead to speculative pressure onoil prices in the spot and futures markets. Dr. Grisanti told reporters inCaracas on 23 March that the gyrations in these markets did not reflect thebasic conditions of supply and demand...