VOL. XLII

No. 10

8-March-1999

OPEC

OPECs Dilemma: To Cut Or Not To Cut?

by Paul Stevens

The following article was written by Professor Paul Stevens,Professor of Petroleum and Economics at the Centre for Energy, Petroleum andMineral Law and Policy, University of Dundee, Scotland.

The OPEC meeting scheduled for 23 March faces a dilemma overwhether to cut production or simply roll over the cuts agreed in 1998.

There are clear problems for OPEC if it is decided tonegotiate for a cut. Most obviously...