Tag Archives: oil

Is OPEC about to break-up?

OPEC is an organisation made up of 12 oil-producing countries which operates as a cartel to try to control oil prices. It was formed in 1960 by Iran, Iraq, Kuwait, Venezuela and Saudi Arabia, with most of the rest of … Continue reading

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The winner’s curse

Iraq has been auctioning off rights to some of its oil and gas blocks in the last couple of days. Often these big auctions lead to a situation called ‘the winner’s curse’. The winner’s curse is when the winner of … Continue reading

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The easy way to stabilise petrol prices

Don’t you hate it that petrol prices go up when oil prices go up but they don’t come down when oil prices come down again? Oil down 18%, petrol up 2% Since April 8, the price of Brent crude has … Continue reading

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