Middle East Economic Survey

VOL. XLVIII

No 1

3-January-2005

UKs Brown Blames Oil Market Volatility On OPEC Production Policy

UK Finance Minister Gordon Brown on 17 December criticized OPECs 10 December decision to reduce oil output, arguing that it was OPEC production policy that was behind increased oil market volatility. In an interview with PBS television in the US, Mr Brown said that oil prices had been too volatile in recent years, with the price ranging from $10-50/B during his period in...