Jul
02

OPEC Obsolescence

OPEC appears to be again losing control over oil prices. Oil has been rallying despite promises of higher production from the cartel. Prices are rising due to plummeting Venezuelan production, Iranian sanctions, problems in Libya and other production crises. But the key reason is major producers like Russia and Saudi Arabia may not have enough excess production capacity to cover any additional supply disruptions given rising global demand.

Share This Post
Facebook Twitter Email

Speak Your Mind

*