A CURIOUS DUALITY

The central role taken by Saudi Arabia in the formation and execution of Opec's present oil market strategy is universally recognised - if not everywhere accepted. The effectiveness of the kingdom in shaping Opec oil policy is only grudgingly acknowledged by Opec member countries such as Algeria, Libya and Iran with strongly differing views, or wryly identified by those non-Opec oil states at whom the strategy is mainly directed; but there can be no disputing the fact that the key to the current oil situation is in Saudi hands.