TERM OF SPOT: THE SEARCH FOR STABILITY 

by Joe Roeber

(In the following article petroleum consultant Joe Roeber of Joe Roeber Associates examines the roots of the current oil price instability, with particular emphasis on the conflict between term and spot pricing. Joe Roeber Associates recently published a multi-client study on the petroleum futures markets - see MEES, 15 October 1984. This article was written before the announcement of the UK Government's decision to abolish...