| OPEC, the intergovernmental organization made up of 13-oil producing members, is technically a cartel. But given some of its recent actions, one economist argues that that label may no longer be applicable.
"I don't think they're really a cartel in the true sense of the word anymore," said Jason Schneker, president and chief economist at Prestige Economics. "A more accurate description, and my vision of it now, is that OPEC is the central bank of oil."..............................................Full Article: Source
|