World Oil Market Situation and OPEC

Our guest speaker, Dr. Alvaro Silva Calderón, Secretary General of OPEC, the Organisation of Petroleum Exporting Countries , described the situation of the world oil markets as it developed after the events having occurred in the Middle East Region. So far, OPEC Member countries have worked together to ensure the security of the oil market by maintaining a stability of supply and a stability of price. Looking to the future, Dr Alvaro Silva Calderón told us how cooperation between OPEC and non-OPEC producer-countries may evolve, as well as between OPEC and consumer countries, in order to maintain a secure and a steady supply of oil. An extraordinary meeting of the Conference of OPEC was held in Doha, Qatar, on 11th June to review the situations, just a few weeks before our event.

Mrs Loyola de Palacio, Vice-President of the European Commission and Commissioner responsible in particular for energy honoured the dinner debate with her active presence, and presented the position of the European Union.

This European Energy Foundation event concluded its series of events before the 2003 summer recess. As usual, it gathered Member of the European Parliament, the Observers for the Accession Countries in the European Parliament together with representatives from other European Institutions. A representative of the Parliamentary Assembly of the Council of Europe also joined us.