07.11.2014 - Oil at $70? ‘Panic in OPEC’
OPEC would likely lower the ceiling on its collective production if oil prices fall to $70 a barrel, a level most of the group’s members don’t expect to see this year, according to several of the group’s officials. “At $70 a barrel, there will be panic in OPEC. We have become used to living with $100 a barrel,” said one OPEC official, speaking on the sidelines of a meeting of governors and other officials from the 12 members of the Organization of the Petroleum Exporting Countries...............................................Full Article: Source
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