OPEC AND OIL PRICES

Otaiba Reiterates views on Oil Price Dangers: Reactions Vary 

Despite a number of adverse reactions, the UAE Oil Minister, Dr. Mana Saeed alOtaiba, has remained unrepentant about his statement last week that since the October OPEC meeting in Vienna OPEC has, de facto if not de jure, abandoned official prices, leaving the member countries free to sell their oil at whatever price they see fit (MEES, 4 November).

Dr. Otaiba's remarks in his 31 October television...