INTERNATIONAL INSTITUTE FOR ORGANIZATION RESEARCH
http://www.anarchy.no/iifor.html - IIFOR P.B. 4777 Sofienberg N- 0506 Oslo - Norway

Norway, OPEC, Russia and Mexico! Cut the crude oil supply in joint market action!

We remember the situation in 2001-2002. Now it is time for another joint market action.

"06.12.2001: The Russians and Mexicans have decided to cut export by 150 000 and 100 000 bpd. respectively, and thus the aim to cut ca 2 000 000 bpd. may perhaps be within reach. The oil price hiked to 20 US $ p.b. 17.12.2001: The Norwegian state council decided to cut oil production 150 000 bpd from 01.01.2002. 04.01.2002: The other countries and Norway have cut production significantly, and the oil price hiked to ca 21 US $ p.b. The trouble in the Mid East in April-May 2002 contributed to hike the oil-price to more than 25 US $ p.b. Medio December 2002 OPEC decided to use regulatory means to keep the crude oil price at 25 US $ p.b. according to DW-TV and other international newsmedia. 27.10.2003 the Nort Sea Brent crude oil spot price was at 29 US $ p.b. according to OILNERGY." From http://www.anarchy.no/a_nor.html  .

If you cannot cooperate, we most likely will have the following situation; 2008 monthly averages and forecasts, US $ p.b. : Jan. 92, Feb. 95, Mar. 104, Apr. 109, May 123, Jun. 132, Jul. 133, Aug. 113, Sep. 97, Oct. 72, Nov. 53, Dec. 43... And even lower in 2009. From http://www.anarchy.no/oilprice1.html  .

Regards...

P. Johansen for IIFOR 03.11.2008