OPEC AND OIL PRICES

Shell Executive Says UK Production Controls Could Discourage Investment

The Chief Executive of Shell UK, Mr. John Raisman, has countered recent calls for cuts in UK oil production in order to stabilize the market (MEES, 25 February) by warning that any attempt to shut in North Sea capacity could create "a serious disincentive" to further investment in the North Sea.

In a speech in London on 20 February, Mr. Raisman acknowledged that the present oil surplus...