THE OIL INDUSTRY AND THE SPOT MARKETS: AN ELEPHANT RIDING A BICYCLE

by Joe Roeber

(In the following article petroleum consultant Joe Roeber of Joe Roeber Associates analyzes the present malaise of spot markets for crude oil and products and weighs possible solutions, with particular emphasis on the improvement of price reporting. A previous article by Mr. Roeber - "Term or Spot: The Search for Stability" was published in MEES on 18 March 1985.)

The problems of the Brent...