| Despite OPEC losing its influence, which might not be recoverable, people are still highly dependent on traditional fossil fuel which means the organization will still be important in the future, economist Max Fraad Wolff told RT. A new report by the World Bank claims the cartel of oil producing nations will lose its influence due to changing market conditions and technological advances.
We’ve seen this forecast before. It is very easy for various parties to forecast outcomes they would sort of like to see happen. It is clear that OPEC has suffered a diminution or decreased in its influence. It is likely to be a case where this influence might not be recoverable in its total. But I don’t think the days are numbered completely, I don’t think this story is over here...............................................Full Article: Source
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