TEST OF NERVES IN THE OIL MARKET

MEES Executive Editor Ian Seymour Reports from Vienna

After another week of near-chaos in world oil markets, during which the price of Brent crude ended up more or less as it began, at around $18/B, the situation appears to be hardening more and more in the direction of a grim battle of nerves between the oil exporting countries. The overwhelming question, of course, remains unchanged: Will the escalating price crash finally oblige the leading non-OPEC oil...