28.10.2008 - Pity party for OPEC?
From Hardassetsinvestor.com: OPEC has been insisting that the oil market is oversupplied for months, and at its heavily anticipated emergency meeting last Friday, instigated by crude prices that have dropped over 50% since summer, they finally did something about it. A reduction of 1.5 million barrels per day (bpd) will take effect on Nov. 1 - effectively cutting OPEC's production by around 5%. How did the market react?.... Full Article: Source