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Strategies & Market Trends : Currencies and the Global Capital Markets
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To: Henry Volquardsen who wrote (2918)1/7/2001 7:57:08 PM
From: hobo  Read Replies (1) of 3536
 
in re: Opec's ability to control prices.

i agree with you that in a soft demand for oil they can not really orchestrate a cut in production since many of those countries are in needs of revenue and in many cases, oil is an important source. therefore if the revenue total (given a lower price), then they will attempt to sell more oil to get the same revenue at the expense of a stable price. (furthering the downward pressure on the price).

however, is it not true that in the last ... say 12 months or more, they have behaved rather surprisingly in their orchestration of production, making the price more stable as it topped (and therefore not falling rapidly ) ?

at least that has been my impression.
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