Production Management, Security of Demand, and Market Stability

Middle East Economic Survey

by Adrian Lajous

The following paper was presented at the OPEC International Seminar, Vienna, 17 September 2004. The author is Chairman of the Oxford Institute of Energy Studies.

The prevalence of spare capacity in the global crude oil market, as well as the willingness and ability to make effective use of the flexibility it provides, have been key instruments of supply management and a central feature of the current oil price regime…

MEES

A very academic-type paper, but informative nonetheless..and also interesting due to is’ lack of reflection or recognition of the upcoming problem of depletion…