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Commodities Briefing - Categorized | Market Moves, Oil more

In OPEC, every oil output number tells a story

Posted on 12 July 2013

OPEC has, for years, insisted that it is an economic organization and not a political one. But few observers would disagree with the suggestion that pretty much everything in OPEC is political.
We have seen how politics has complicated the appointments of secretaries general, most recently in the case of Abdalla el-Badri who, despite having ended his second and final three-year term as the organization’s secretary general in December last year, remains in the post. Perhaps the area most overshadowed by politics is that of recording the production of member countries, which is why OPEC uses secondary sources to monitor its crude output………………………………………..Full Article: Source


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