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Commodities Briefing - Categorized | Market Moves, Oil more

Saudi Arabia exposes OPEC’s fissures

Posted on 16 December 2013

Saudi Arabia has started OPEC’s difficult year early. In the same month that the Organization of the Petroleum Exporting Countries, a group of some of the world’s largest oil producers, said it would keep its output ceiling unchanged, the body’s biggest producer and de facto leader “is done with its role as swing producer.”
As The Wall Street Journal’s crack OPEC team reports, Saudi Arabia has essentially promised to steady markets for the past two years. But now, with pressure growing over a possible output cut to steady markets, the Saudis are signaling they are no longer willing to go it alone………………………………………..Full Article: Source


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