OPEC AND OIL PRICES

Debate Continues in UK over BNOC's Role 

The continuing debate in the UK over the trading losses sustained by the British National Oil Corporation (BNOC) - which has gained urgency in the last week as the spot price for March Brent has fallen by over $1.00/B to around $27.30/B (as against the official price of $28.65/B) - has led to suggestions that the quantity of oil BNOC is obliged to purchase should be reduced and that the UK Government should adopt a more...