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Politics : Foreign Policy Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: zonder who wrote (1644)	1/3/2003 2:11:29 PM
From: mistermj	Read Replies (1) \| Respond to of 15987

Zonder,how can a money manager not understand the role of OPEC? >>However, the fact that it is a finite commodity makes it undesirable for the producer country to flood the market with oil. THAT is what I am talking about. That it is NOT to the advantage of the PRODUCER. That is why there is a cartel called OPEC, incidentally...<< OPEC has in fact very wisely become a price moderation cartel.They do in fact flood the market with oil at times to meet their long term goals of price stability. >>OPEC and its role in the market However, the focus of my address to you today will be OPEC's role in the oil market in recent years. I am sure you know that OPEC's main aim is price stability, and that means not only cutting output when prices are on a downward path, but also increasing production should prices threaten to spiral out of control. We work for the benefit of both producers and consumers, and we encourage non-OPEC nations to join with us in this. << opec.org