OPEC Price Bands System to Come Back?

On June 30 of this year, the President of OPEC Chakib Khelil rejected a call to set any price band control in face of relentless rise of world oil prices.

The price fluctuations Alvarez said, should worry not only producers, but the whole oil-consuming world because the oil activities such as exploration, production and financing can become compromised by a sharp decline in prices.

Amid the growing global financial crisis, "we need to impose some order" Alvarez said.

Author: Ksenia Kochneva