Opec on the attack

Opec and the International Energy Agency (IEA) are getting on each other's nerves again. For years, partnerships and other talking shops that bring officials from both groups together have ticked along nicely. And the senior officials of both speak kindly to one another - at least in front of o...

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Bibliographic Details
Published in:Petroleum Economist 2008-08, Vol.75 (8), p.4-5
Main Authors: KHELIL, Chakib, EL-BADRI, Abdulla
Format: Magazinearticle
Language:English
Subjects:
Applied sciences
Consumers
Crude oil prices
Economic data
Economists
Energy
Energy economics
Energy industry
Exact sciences and technology
Fossil fuels and derived products
General, economic and professional studies
Industrywide conditions
Oil
Petroleum industry
Production capacity
Supply
Supply & demand
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Summary:Opec and the International Energy Agency (IEA) are getting on each other's nerves again. For years, partnerships and other talking shops that bring officials from both groups together have ticked along nicely. And the senior officials of both speak kindly to one another - at least in front of outsiders. But despite another public show of friendship last month at a luncheon during the World Petroleum Congress (WPC) in Madrid, the rapprochement has become another casualty of the rising price of crude. Because when it comes to blaming someone for $145 a barrel oil - a price level that Opec says it dislikes as much as the IEA's consumers do - the gloves come off.
ISSN:0306-395X