Tagged: OPEC

Gulf spill and global oil production

The International Energy Agency, in its monthly Oil Market Report, says the Gulf of Mexico spill is a potential “game changer” for oil supply, possibly restricting figure sub-sea oil development and limiting supply.  But Professor Cutler Cleveland, director of the BU Center for Energy and Environmental Studies and editor-in-chief of the Encyclopedia of Earth, see […]

OPEC faces dilemma

Organizaton of the Petroleum Exporting Countries (OPEC) members meeting in Vienna next week face a dilemma.  If they vote to force oil prices up through production cuts, they risk slowing the global economic recovery.  But if they don’t cut supply, reserves will overflow worldwide.  Mark T. Williams, an energy risk management expert who teaches finance at the […]

Global recession, not OPEC, setting oil prices

School of Management finance Professor Mark T. Williams, an expert on energy risk management, says the global recession has overtaken the ability of the Organization of Petroleum Exporting Countries to set oil prices, which will be reflected in next week’s OPEC meeting in Vienna. “The global recession has put significant downward pressure on oil demand, […]