No 5


OPEC And Oil Prices

By Ahmad Zaki Yamani

The following is the text of the speech given byShaikh Ahmad Zaki Yamani, Chairman of the Center for Global Energy Studies andformer Saudi Minister of Petroleum, at the CERI World Oil Conference, held inCalgary, Canada on 28-29 January 2002.

Oil producers outside OPEC were concerned recently that OPECmight be entering a phase in which it wishes to defend its market share ratherthan the oil price. The Organizations latest output...