OPEC Staking Its Life on Oil Demand
Article Abstract:
The Organization of Petroleum Exporting Countries (OPEC) has had a rough time with crude oil prices and market shares. Factors such as weather supply and demand, production and price have not been working in OPEC's favor recently. Of prime concern are the political traumas in the areas, particularly the war between Iran and Iraq. 1983 demand declined, while production increased. The cartel believes demand will increase. In March of 1983, OPEC decreased the price of crude, for the first time ever. Europe's economic recovery has been slower than that of the United States, largely because of the dollar's strength. Quota problems have proven difficult to assess because of political infighting. Price cuts by non-OPEC oil producers have put even greater pressure on OPEC.
Publication Name: Futures: Magazine of Commodities & Options
Subject: Business, general
ISSN:
Year: 1984
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Where Are the New York Exchanges Headed?
Article Abstract:
The New York futures exchanges, the New York Commodity Exchange (COMEX), and the New York Mercantile Exchange (NYMEX) are finding that they are running out of room at Manhattan's World Trade Center. Together with the Coffee, Sugar and Cocoa Exchange and the New York Cotton Exchange, they occupy a 22,000 square-foot trading floor. COMEX is the leader in metals futures, and NYMEX is the leader in the energy futures market. The Chicago Mercantile Exchange (CMF) and the Chicago Board of Trade (CBT) are trying to run close competition with the New York exchanges. But even with the space crunch, the COMEX and NYMEX feel the Chicago markets have a long road ahead to catch up with them.
Publication Name: Futures: Magazine of Commodities & Options
Subject: Business, general
ISSN:
Year: 1984
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