UK BACKING FOR NEW OPEC OIL PRICE STRUCTURE NOW APPEARS LIKELY

MEES Executive Editor Ian Seymour Reports on OPEC's Geneva Conference, 28-30 January Despite the split decision, OPEC's majority agreement on a new price structure for differentials looks like getting a thumbs up both from the market and key non-OPEC oil exporters. For the moment the ball is squarely in the North Sea court, and here - at least as far as the UK is concerned the indications are fairly encouraging. Although...