VOL. XLVI

No 39

29-September-2003

SUPPLY/DEMAND

Price Band Mechanism Lowering Oil Market Volatility, Says OPEC

OPECs efforts to adjust oil supply with the aim of maintaining the OPEC Basket Price within the $22-28/B price band has reduced oil price volatility since it was introduced. According to the September issue of the OPEC Monthly Oil Market Report, empirical analysis over the period since the introduction of the price band confirms the success of the price band both in terms of its actual...