World oil prices in jeopardy
This paper reports that in the 18 months since Iraqi forces crossed the border into Kuwait, world crude oil prices have been on a roller coaster. In daily trading, they hit a peak of $40/bbl in the immediate aftermath of Iraqi's August 1990 invasion, then slumped to $17.50/bbl for North Sea Brent blend late last month. Unless the Organization of Petroleum Exporting Countries curbs production in the second quarter of this year, crude oil markets expect more drastic declines. The short term health of prices will determine the atmosphere when OPEC's ministerial monitoring committee (MMC) meets in Geneva Feb. 12 to discuss reintroduction of a production ceiling backed by individual national quotas.
- OSTI ID:
- 5494472
- Journal Information:
- Oil and Gas Journal; (United States), Journal Name: Oil and Gas Journal; (United States) Vol. 90:2; ISSN 0030-1388; ISSN OIGJA
- Country of Publication:
- United States
- Language:
- English
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