OPEC has decided to have another extraordinary meeting this month in an effort to keep recessionary demand from sending prices even further down toward $50 per barrel. The meeting will be November 29th in Cairo in conjunction with an Organization of Arab Petroleum Exporting Countries gathering. OPEC’s president, Chakib Khelil, says OPEC plans to defend the price band of $70-$90, but the key question is will Saudi Arabia (more…)
Posts Tagged ‘oil price’
OPEC looks to cut supply again to stop oil price slide
Tuesday, November 18th, 2008Developing Models that Fit Oil Price Swings
Friday, July 25th, 2008I spent much of the day working on a model that pulls the relevant variables of the oil market together to have predictive success for the prices of the last decade and a half. Once the model comes together, it will hopefully give some insight on the trajectory of prices for the next decade and a half. I believe this is absolutely crucial and seriously missing. The EIA, World Bank, CERA and many other mainstream modelers of oil prices have been woefully incorrect in their past predictions, and it makes policymakers largely blind as they try to put together energy strategies for the future. I aim to publish the report in (more…)