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Markets :: Basic Chemicals :: Petrochemicals :: Ethylene

Mideast

11:07 AM MST | January 14, 2008 | Natasha Alperowicz

OPEC is responsible for “deliberately limiting output in 2007” to keep oil prices high, according to the Centre for Global Energy Studies (CGES; London). Oil reached $100/bbl at CW presstime and is expected to remain high well into this year as a result of tight supplies, CGES says. OPEC says it is not to blame for rising oil prices and accuses market speculators instead. An OPEC meeting in Abu Dhabi last month concluded that the oil market is “well-supplied,” but that “oil prices remain volatile.” OPEC decided to leave...

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