OPEC Well Positioned to Benefit as Oil Demand Grows. (Originated from Knight-Ridder Financial via The Journal of Commerce)

Knight Ridder/Tribune Business News | April 11, 1994| | Copyright

LONDON--Apr. 12--OPEC is in a good position to take advantage of rising demand for its crude oil over the next few decades, despite the crisis it faces, speakers at the fourth annual conference of the Centre for Global Energy Studies here said.

But they warned that the group must not repeat the mistakes of the past if it is to avoid further declines in already weak oil prices.

Sheikh Ahmed Zaki Yamani, CGES chairman, said there is a possibility that if prices remain at about $14 a barrel "over the next few years" and then rise to $17, "there will be need for ...

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