OPEC's Enigma
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OPEC elected to continue production at its current level, at least until May. The announcement was an unexpected result of the cartel’s meeting in Vienna.
There was no consensus among analysts about why OPEC did not try to increase prices. A number of member nations and oil producers from outside OPEC have said that if crude stays below $70 a barrel they cannot balance their national budgets and will face increasing deficits. Iran and Venezuela are the most vocal among these nations.
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There was no consensus among analysts about why OPEC did not try to increase prices. A number of member nations and oil producers from outside OPEC have said that if crude stays below $70 a barrel they cannot balance their national budgets and will face increasing deficits. Iran and Venezuela are the most vocal among these nations.
Continue Reading at 247wallst.com>>>>
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