24.01.2013 - OPEC cannot sustain high oil prices forever: Kemp
OPEC's influence on oil prices is very visible in the short run, but it is less certain that its pricing power can be maintained in the long term, according to a thoughtful review published by Bassam Fattouh and Lavan Mahadeva of the Oxford Institute for Energy Studies. Fattouh and Mahadeva examine how the cartel's strategy and power over oil prices have varied over time depending on market conditions and the interaction among OPEC members. It is a superb review of the cartel's history and operations since it was founded in 1960 with the aim of securing "fair and stable prices" for petroleum producers...............................................Full Article: Source
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