No 41


OilPricing Regimes

ByProfessor Robert Mabro

Thefollowing is the speech delivered by Professor Robert Mabro, Director, OxfordInstitute for Energy Studies, at the OPEC/CWC sponsored seminar on OPEC andthe Global Energy Balance, held in Vienna on 28-29 September.

Anew regime, mercifully very short lived, was introduced in late 1985 andprevailed throughout most of 1986, in the context of an undeclared price war.This was the netback pricing regime which enabled companies...