EDITORIAL OPEC Or Opaque? "Get prices down now", Trump to OPEC: Following the US sanctions on Iran, OPEC the 15 nation group of major oil producing nations, which accounts for 40% of total global oil production, is meeting today in Algeria to discuss something which affects us all, fixing the 'oil prices'. Will OPEC appease president Donald Trump? Since mid-term elections in US is to happen soon and Trump is most concerned about his popularity. Oil prices has increased by 40% in last four years at under 80 dollar/barrel which is well-short of 2008 peak of 147 dollar/barrel. Trump said, "we protect middle-east companies yet they push for higher and higher prices, OPEC monopoly must get prices down now". Riyadh and the King can hardly annoy US, it's strongest ally. But oil, energy and geopolitical experts from Middle East has another version. For this fuel - price based economic instability, according to one
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Showing posts from September 23, 2018