| OPEC is still getting a lot of blame for low oil prices, which have led to losses of around $700 billion for energy investors. While it's true that OPEC's decision not to cut its own production has led to low prices, it's also true that the cartel's production hasn't wavered much at all in the past decade, while U.S. production has nearly doubled.
Was the oil glut that led to low oil prices really OPEC's fault? And if OPEC's desire now is to squeeze U.S. shale, Russia, and others long-term, do you really think they'll give up on that strategy after a few months?..............................................Full Article: Source
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