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Strategies & Market Trends : Currencies and the Global Capital Markets
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To: hobo who wrote (2922)1/8/2001 9:35:17 AM
From: Henry Volquardsen  Read Replies (1) of 3536
 
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 the risk of being facetious it is easy to appear to be cooperating when things are going your way. In fact from the point when OPEC was actually arguing about production increases to restrain prices to when they have started discussing cuts to prop prices has been relatively short. Prices did retrench pretty quickly and, imo, would have already fallen further if we were not at the start of what is turning out to be a colder than expected winter in the northern hemisphere. I think OPEC's concern now is related to what could happen once we get passed winter.

Henry
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