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Commodities Briefing - Categorized | Market Moves, Oil more

Is OPEC still relevant in oil market?

Posted on 17 December 2012

The energy market used to hang on every word from OPEC. A reduction or increase in production could send prices rising or falling in an instant. But, earlier this week, the oil-producing group announced that it would maintain production where it is, and almost no one cared. There weren’t headlines on the evening news or endless analysis on cable television. It was a story that was over almost before it happened.
This begs the question: Is OPEC still relevant in the oil market? It’s not what it used to be: To say that OPEC doesn’t matter would be silly. In fact, OPEC’s production has grown faster than world production over the past 20 years……………………………………..Full Article: Source


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This post was written by:

VRS - who has written 34624 posts on Opalesque Commodities Briefing.


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