Middle East Economic Survey

VOL. LIV

No 7

14-Feb-2011

Oil Futures: Real World Disconnect

By William R Edwards

The following article was written for MEES by Mr Edwards, who is President of Edwards Energy Consultants, Katy, Texas (wre@texven.com).

I have been amused for many years at the creative writing that has been published in an attempt to justify the movement of oil futures prices as if these prices were a true reflection of fundamental factors affecting oil markets. From the viewpoint...