Energy Comments Publications

OIES researchers publish in peer-reviewed academic journals as well as producing or authoring policy briefs, technical reports, and op-eds. Below is a selection of non-OIES publications by OIES staff.

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  • Managing Oil Prices within a Band

    By: Robert Mabro

    Oil prices fell to very low levels during the January 1998 – March 1999 crisis. The oil-exporting countries sought to redress the situation by repeated attempts to impress the market with production cuts. The first attempt, made in March 1998, did not produce the desired price effect. The second attempt, in June 1998, was equally […]

  • Should OPEC Now Raise its Output Quotas?

    By: Robert Mabro

    A. The Oil Price Saga How far is Tipperary? Well, the answer to this question depends first and foremost on where you happen to be when you enquire. In the same vein we can ask: `How high are oil prices today?’ And we would then answer the question by a further question: `What is your […]

  • US Oil Security and the Oil Import Tariff Question

    By: Paul Horsnell

    Oil protectionism is back as an issue in the USA, specifically in the form of lobbying by smaller producers for an oil import tariff to help bolster the prices they receive. The true hallmark of a bad idea is that it never really goes away. When the idea is one that can serve as a […]

  • Distillate Inventory Behaviour in the USA

    By: Robert Mabro

    Distillate (heating oil and diesel) inventories fell steeply in the USA in the early eighties (see figure below) and have lost some of the pronounced seasonal effect associated in particular with heating fuel oil . Why have stock levels fallen and what has driven the changing seasonal pattern in the 1980s and 1990s? Below I […]

  • Changing Venezuelan Oil Policy

    By: B. Mommer

    The general elections in November and December 1998 brought about fundamental changes in Venezuela’s political landscape. The winner of the presidential elections, with 56% of the votes, was lieutenant colonel Hugo Chávez, the leader of the failed coup d’état of February 1992. After spending two years in jail and discharged from the army he had […]

  • Lower Gas Prices: Have Producers Got The Right Signals?

    By: Robert Mabro

    Gas-exporting companies and gas-importing utilities in Europe are in the process of reconvening, possibly in Norway, a conference first held last December in Algiers, to consider the impact of the current economic environment on the gas industry. Although the initiative was triggered by the prevailing oil price crisis, the Algiers conference also expressed concern about […]

  • Mergers and the Oil Eldorado

    By: Robert Mabro

    This article was first published in Middle East Economic Survey February 1st 1999. The merger frenzy to which the oil industry is succumbing today should not be attributed to the recent price collapse. Prices fall and rise in the short period; mergers are designed to last for a much longer while. Companies seek to merge, […]

  • Caspian Oil and Gas: A Game, if not a Great Game

    By: Paul Horsnell

    This comment first appeared in the International Institute of Strategic Studies Strategic Survey. The analogy between the strategic aspects of the development of energy in the Caspian region and the ‘great game’ of the competition between Britain and Russia for influence over the region is often drawn, with its allusions to high level bipolar superpower […]

  • The Strange Case of the Missing Barrels

    By: Paul Horsnell

    At the time of writing, oil prices are testing lows last seen (in nominal terms) in 1973, with the severity of the 1998 oil price crisis now greater than that of 1986. The speed of adjustment in oil markets, and the sharp price changes occasioned by each new piece of information that hits the news […]