| When his final press conference as secretary-general of the Organization of the Petroleum Exporting Countries came to an end last week, Abdallah Salem el-Badri finally addressed the whispers that have been circulating throughout the oil markets.
Energy industry observers are howling that “OPEC is dead,” El-Badri acknowledged, after the group again failed to reach an agreement to cap oil production that would bolster sagging prices. His frustration was evident. “I have heard this comment maybe five, six times in my career,” he told reporters in Vienna. “Don’t take that notion that OPEC is dead. OPEC is alive. OPEC will be a very important segment of the economy, of the world.”..............................................Full Article: Source
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