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What’s Up With OPEC?

Posted on 21 October 2016

In 2014, the Organization of Petroleum Exporting Countries (OPEC) declined to reduce oil production in the face of falling prices. Last month, at a meeting in Algiers, OPEC went in the opposite direction, setting out a goal of capping production collectively at 33 million barrels per day.
Why the change of course? And does OPEC’s most recent pronouncement carry any weight? A recent report from the Center on Global Energy Policy at Columbia University, and authored by Antoine Halff, director of the center’s Global Oil Markets Research Program, provides some perspective…………………………………….Full Article: Source


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