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'A GOOD SWEATING.'.
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- Author(s): Yergin, Daniel
- Source:
New Republic. 2/17/86, Vol. 194 Issue 7, p8-10. 3p.
- Additional Information
- Subject Terms:
- Abstract:
Focuses on the factors responsible to collapse of oil prices in the international market. Comment that With the market shrinking, the Organization of Petroleum Exporting Countries (OPEC) cut back on their production, making room for the non-OPEC oil in order to keep prices up; Decision of OPEC to revise its system of oil trading to secure whatever market share it wanted; Opinion that the capacity to produce oil around the world exceeds the demand for its products by 25 percent.
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