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No 18/2006
Vienna, Austria - 1 December 2006

The Organization of the Petroleum Exporting Countries (OPEC) and the European Union (EU) are holding a two-day Joint Workshop on the Impact of Financial Markets on the Price of Oil on 4-5 December in Vienna, Austria. The workshop is the second high-level expert meeting to take place under the OPEC-EU Energy Dialogue, following a Roundtable on Oil Market Developments held in Vienna in November 2005.

The workshop will address the question of what has been the effect of financial markets on oil prices and price volatility in recent years.

In addition to high-ranking policy makers from OPEC and EU member states, participants in the workshop include oil companies, trading houses, investment banks, stock exchanges, regulators, research institutions, hedge funds, pension funds, inter-governmental agencies and professionals and academics.

A further press release will be issued at the conclusion of the Workshop.