Based in Vienna. OPEC members are Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates and Venezuela.
Although OPEC is a dominant force in international oil markets, growth in world demand for oil has at times pushed production to near-capacity limits, seemingly reducing OPEC’s ability to contain oil prices below the cartel’s announced target range, which is intended to sustain world economic growth and limit development of substitute energy sources. This was evident with the surge in crude oil prices in 2008, before prices collapsed due to the global economic downturn.
The Energy Risk Glossary, now in its eighth edition, provides an at-a-glance explanation of the myriad specialised terms and acronyms used in energy trading and risk management.
This year, the guide has been updated by Aviv Handler of ETR Advisory. Energy Risk would like to thank him for his input into this edition, which benefits greatly from his valuable experience and insight into energy markets.
The fast-changing nature of these markets means much has changed since our last edition – almost 200 new entries and revisions have been made this year. Reflecting the increasing importance of regulation, definitions of the Markets in Financial Instruments Directive (MiFid) and the Ljubljana-based Agency for the Cooperation of Energy Regulators (Acer) make it into the glossary for the first time. A focus on improving back-office infrastructure and mitigating counterparty risk is also apparent from the inclusion of terms such as ‘portfolio reconciliation’ and ‘portfolio compression’.
The glossary is extensively cross-referenced, making for easy and thorough searches. We hope you find it useful.
Sign up for Risk.net email alerts
UK, 10th - 11th Sep 2014
UK, 27th - 28th Nov 2014
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.