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Fossil Fuels Expert Roundtable: OPEC and Oil Prices

Chatham House, London

Event Documents


Paul Stevens, Distinguished Fellow, Energy, Environment and Resources, Chatham House


The recent decision by OPEC to maintain their official production levels is seen as a major change for global oil markets. They have in effect relinquished control over the markets, leaving price to the mercy of market forces. In this session the speaker will examine the basis for OPEC’s decision and suggest that it derives from two basic misunderstandings of how oil markets work. His conclusion is that the result is likely to be a period of significantly lower oil prices. 

Attendance at this event is by invitation only.