14.10.2014 - OPEC’s Strife Deepens
The latest comments from different OPEC sources suggest there is indeed a deep malaise within the cartel that for so long has been key to the path of oil prices. What seems increasingly clear is that OPEC members are in deep disarray over how to respond to the once-in-a-generation supply shock that is the U.S. shale revolution. Rather than looking to cooperate with each other to stem oil’s fall, individual cartel members are instead engaged in a desperate scramble for market share. That means they are still pumping as much oil as they can, rather than working together to try to cap supply. And with OPEC in theory working these days to a collective supply quota, rather than setting individual output quotas for each country, the penalties for producing too much crude are much now weaker than in the past...............................................Full Article: Source
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