Press Esc to close

WorldOil

CONTENT PREVIEW

For full content view: Log in Now!

  • International


    Kurt S. Abraham, Managing/International Editor

    Once again, that tried and true saying, "What goes up must come down," is particularly applicable to global oil prices. Compared to late 2000, when the average price for OPEC’s market basket of crudes was hovering near $30/bbl, the rate today is only about $20/bbl. At least half of that decline has come just since the September 11 terrorist attacks on the U.S. Indeed, OPEC’s reference price in early November tumbled below $19/bbl for the first time since July 1999. The drastic drop prompted reports that OPEC would cut the group’s output quota by 1.5 million bopd when members met in mid-November in Vienna. Regardless of whether that cut is achieved and takes effect this month, the truth is that this organization cannot completely rescue prices on its own. There will have to be some output discipline exerted by Russia and other non-OPEC producers.

This area of the site is restricted. In order to gain access, please either Log In, or subscribe to World Oil.

Two options are available to you for creating an account.

1. Get a Free Trial Subscription to World Oil Magazine and gain immediate access to select content on World Oil Online.

Start a Free Trial Subscription and gain immediate access to the complete current issue of World Oil Magazine. Plus, you’ll receive 3 upcoming issues of World Oil Magazine in print or digital format.* You also receive access to the Energy Events Calendar, Industry Statistics and WO Wire’s news and industry coverage.

Free Trial


2. Purchase a subscription to World Oil magazine and gain immediate and complete access to World Oil Online. As a Total Access subscriber you will have access to all areas of the site available to registered users and free subscribers as well as having access to such premium content areas as:

  • The Archives section containing over ten years of complete magazine archives,
  • The WO DataHub's engineering tables and directories,
  • The World Oil annual forecasts, including past predictions,
  • Select World Oil technical handbooks,
  • And much, much more!

Subscribe


Physical copies of this content may be available for purchase. Visit the Reprints & Back Issues section.


If you are already a paid subscriber and do not have access, please email CustomerService@worldoil.com.

WO DATA HUB

EngineeringTablesIcon-Large

Engineering Data Tables

World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.

WO SUPPLEMENTS

2013 Fracturing Technology

2013 Fracturing Technology

ENERGY EVENTS