Middle East Economic Survey

VOL. XLVIII

No 17

25-April-2005

Low Inventories Or Stable Prices? You Cant Have Both

By William R Edwards

The following paper was first published in The Energy Journal, the quarterly publication of the International Association for Energy Economists (IAEE) and is republished with permission. William R Edwards is President of Edwards Energy Consultants, Katy,Texas (wre@texven.com).

OPEC has recently stated its intention to use US inventory levels as a guide in making its...