| OPEC has decided to stay the course, but that doesn't mean there isn't a rough ride ahead for the oil industry. The cartel late last week took no action to adjust oil production, agreeing to continue pumping about 30 million barrels a day. That is about a third of what the world consumes.
While some claim OPEC's inaction means the group is now impotent, it's important to remember that the cartel's 12 nations still control 40 percent of the world's oil reserves. It is, in fact, using its power to test the market, and the North American shale oil companies are the guinea pigs...............................................Full Article: Source
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