OPEC: APPEARANCE AND REALITY

MEES Editor Ian Seymour Reports on the Outcome and Implications of OPEC's 25-27 June Vienna Conference.

All things considered, the general verdict on the swiftly accomplished OPEC agreement in Vienna seems to be that, despite its manifest imperfections, it will help to preserve oil price stability, at least until the end of the year. That this is so, or perceived to be so by the market, is due not only to the efforts of OPEC itself but also to a...