December 7, 2015
OPEC met in Vienna last Friday and the cartel said that they will continue to “closely monitor developments” in the oil market. In my latest piece for Seeking Alpha I explain why OPEC action to increase the production ceiling to 31.5 million barrels and other factors amount to an admission of the cartel’s impotence. I also explain why oil may continue to drift lower but why we could wake up one morning and find the price of the energy commodity appreciably higher.
Article: OPEC Meets
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