Oil’s Upward March

Oil’s Upward March / A. F. Alhajji. Project Syndicate, 28/06/2011

http://www.project-syndicate.org/commentary/afalhajji8/English

When OPEC members met in Vienna recently, the Saudis failed to control the meeting, OPEC’s production ceiling remained unchanged, and member countries are setting their own output levels. But talk of an OPEC breakup is premature. After all, it has survived major wars, numerous diplomatic disputes, and two major market collapses. In fact, the secret to OPEC’s survival is its weakness, not its strength. Friction or no friction, OPEC has been, and will always be, irrelevant to market forces on the ground. OPEC has never had market power, but Saudi Arabia has, and Saudi market power has always been assigned, mistakenly, to OPEC…



Citer ce billet
Danièle Revel (2011, 29 juin). Oil’s Upward March. Veille énergie climat. Consulté le 18 juin 2024, à l’adresse https://doi.org/10.58079/o90g

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