Middle East Economic Survey
VOL. XLVIII
No 20
16-May-2005
Venezuelas Rodriguez Calls For New Oil Price Band
Venezuelas Foreign Minister and former OPEC president Ali Rodriguez on 9 May called for a new oil price band system in an effort to stabilize oil prices. OPEC announced in January that it had suspended its target $22-28/B OPEC Basket price band after prices had exceeded the band for over a year (MEES, 7 February). There is a tension that, in my view, should lead to an international agreement...
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