VOL. XLII

No 40

4-October-1999

OPEC

OPECs Unwieldy Market Power

by Sarah Emerson

The following is the text of the speech delivered by SarahEmerson, Director, Petroleum Services, ESAI, at the "Oil Price Challengesinto the Next Century" Conference sponsored jointly by Oil and Gas Journaland the Centre for Global Energy Studies in Houston, Texas on 9-10 September.

At the end of 1997, with the Asian economic crisis unfoldingand OPEC raising production at its now infamous December first meeting, some...