OPEC In Limbo
by Ian Seymour
The following is the text of a presentation by MEES Editor Ian Seymour at theCGES Conference in London on 11 April 1994.
If one were to try to describe the various stages passed through by OPECsince its creation in 1960, one might say that its first 10 to 12 yearsconstituted the era of bargaining. Rather like a sort of producers' trade union,the OPEC members negotiated - pretty successfully on the whole - with the majorinternational oil...