VOL. XLII

No 40

4-October-1999

OPEC

Managing Oil Prices Within A Band

by Robert Mabro

The following article by Professor Robert Mabro, Director ofthe Oxford Institute for Energy Studies (OIES), is reproduced from the OIESSeptember monthly web page <http: //associnst.ox.ac.uk/energy/>

Oil prices fell to very low levels during the January1998-March 1999 crisis. The oil-exporting countries sought to redress thesituation by repeated attempts to impress the market with production cuts. Thefirst...