OPEC'S POLICY SWITCH CARRIES MOMENTOUS IMPLICATIONS OIL MARKET

MEES Executive Editor Ian Seymour Reports on the Outcome of OPEC's Geneva Conference and its Implications

Although the first panic reaction in the market may prove to have been greatly overdone in terms of the actual supply/demand balance over the next few months, there can be no doubt that OPEC's Geneva decision - in the words of the official communique "to secure and defend for OPEC a fair share of the world...