Swiss Economicblogs.org
OPEC ministers meet in Vienna tomorrow. Expectations could hardly be lower. Attempts to agree on an output freeze were stymied by the Saudi’s insistence that is rival Iran participates as well. Iran cannot agree to limit its production yet, or it would have sacrificed (or postponed) it nuclear program for nought. Many observers have announced the death of OPEC. The Saudi’s refusal in 2014 to continue to act as the swing producer, coupled with the rise of non-OPEC production,...
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