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OPEC: RIP? Not So Fast

Many observers have proclaimed the death of OPEC. This seems to be a premature judgment, and may reflect a misunderstanding of oligopolistic practices. The decision not to cut production is not a sign of the...

OPEC sets 30 mln barrel/day oil output cap

Vienna, December 14, 2011 : OPEC, the oil cartel, on Wednesday reached an agreement capping the group’s crude oil production at 30 million barrels a day(bpd). While the deal set an overall output cap, it...

High oil prices threat to global economy : IEA

Singapore – December 14, 2011 : High oil prices threaten to worsen a global economic slowdown and crude producers should consider boosting output, the chief economist for the International Energy Agency (IEA) Mr Fatih Birol...

 

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