LETTER TO THE EDITOR
To: The Editor, Middle East Economic Survey
Oil prices have recently risen to over $30/B a level reached only in 1990 when Iraq invaded Kuwait and in 1980 at the start of the Iraq-Iran war. But on both occasions prices subsequently fell sharply. So, have producers benefited from the lessons of these previous experiences, and will they be able this time around to manage a soft landing of the price instead of a sharp fall?
It is clear...